The Fed released its interest rate decision on Wednesday. The Fed kept its interest rate unchanged at 0.25% - 0.50%. This decision was widely expected by analysts.

The Fed said that the U.S. economy is expected to continue to expand moderately, while the U.S. labour market is expected to continue to strengthen. But the Fed noted that it was "closely monitoring global economic and financial developments and is assessing their implications for the labour market and inflation, and for the balance of risks to the outlook".

The Fed also said that inflation is expected to remain at low levels due to a further drop in energy prices.

The Fed raised its interest rate to the range 0.25% - 0.50% from 0.00% - 0.25% in December.