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The Federal Reserve on Wednesday stuck to its plan to keep stimulating the U.S. economy until the job market improves and repeated its vow to keep rates near zero until mid-2015. In a policy statement after a two-day meeting, the central bank acknowledged hints of strength in the U.S. housing market, but reiterated a pledge to continue supporting growth even as the recovery picks up. It said it would continue purchasing $40 billion in mortgage-backed debt per month to push interest rates lower. The Fed did nod to a recent increase in inflation but said it was linked to higher energy prices, adding that inflation expectations have remained stable.

The Federal Reserve on Wednesday stuck to its plan to keep stimulating the U.S. economy until the job market improves and repeated its vow to keep rates near zero until mid-2015.

In a policy statement after a two-day meeting, the central bank acknowledged hints of strength in the U.S. housing market, but reiterated a pledge to continue supporting growth even as the recovery picks up.

It said it would continue purchasing $40 billion in mortgage-backed debt per month to push interest rates lower.

The Fed did nod to a recent increase in inflation but said it was linked to higher energy prices, adding that inflation expectations have remained stable.