The FOMC decided to leave interest rates unchanged after a two-day meeting on Wednesday.
"The Committee seeks maximum employment and inflation at 2 percent over the longer run. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent," the Federal Reserve said in a statement.
The Fed said the committee would continue to monitor the implications of incoming information for the economic outlook.
"The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals," the release read.
Fed President Jerome Powell is set to go live for a press conference at 2:30 PM EST.
U.S. stock market indexies jumped in the minutes after the release. The $S&P 500 Index (.SPX.US)$ rose 0.50%, the $Nasdaq Composite Index (.IXIC.US)$ skipped 0.50%, and the $Dow Jones Industrial Average (.DJI.US)$ jumped about 0.40%.