US Fed keeps rates at record low

Presenting an optimistic picture of the American economy, the US Federal Reserve has said the recovery is on a "firmer footing". It has also decided to maintain benchmark interest rate in the range of 0-0.25%.

Presenting an optimistic picture of the American economy, the US Federal Reserve has said the recovery is on a "firmer footing".

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It has also decided to maintain benchmark interest rate in the range of 0-0.25%.

The decision comes at a time when global markets remain uncertain about the impact of the tsunami and the subsequently unravelling nuclear crisis in Japan.

The Federal Reserve has been persisting with very low interest rates since December 2008.

US economy expanded at 2.8% in the last three months of 2010.