To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee expects to maintain a highly accommodative stance for monetary policy.
In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014. [SOURCE]
In other words, no hope for much change under the present administration. We're going to give away money to say that the economy is moving. Inflation? Hah! Ever try inflating a lead ballon?
Now about your retirement plans....
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Fed Signals That a Full Recovery Is Years Away
By BINYAMIN APPELBAUM
The Federal Reserve said it was not likely to raise interest rates until the end of 2014, adding 18 months to the expected duration of its response to the slump.