The zero interest rate policy of the Federal Open Market Committee is not going away any time soon.

The Fed voted to keep rates at or near zero for the next financial quarter, adding the subdued outlook for inflation over the medium run is “likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.”

The Fed is maintaining its existing policies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction.

Read the release here.

— Jacob Gaffney