At a press conference after the interest rate resolution, Federal Reserve Chairman Colin Powell said that there is still some way to consider raising interest rates, and it is obviously not time for the Federal Reserve to raise interest rates.
Powell reiterated that the economy is still some way from making substantial progress.
The Fed left the target range of the federal funds rate unchanged at 0-0.25% on Wednesday and said the economy was making progress towards meeting the conditions for underweight bond purchases.