US Fed keeps interest rate unchanged, says economy rising at strong rate

US Federal Reserve said, 'economic activity has been 'rising at a strong rate,' and the unemployment rate 'has stayed low'.

Federal Reserve officials left the benchmark interest rate unchanged while reiterating their plan to gradually lift borrowing costs to keep the economy expanding at a healthy pace.

Economic activity has been “rising at a strong rate,” and the unemployment rate “has stayed low,” the Federal Open Market Committee said Wednesday in a statement released in Washington. “Household spending and business fixed investment have grown strongly.”

The committee said it expects that “further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the