The US Federal Reserve has said the US economy is in recovery after a severe downturn.
The Fed, as widely expected, held its main lending rates at close to 0% and repeated its intention to keep rates exceptionally low for an extended period.
'Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn,' the Fed said a statement.
The Reserve said that it would gradually slow the pace of its purchases of mortgage-related debt in order to promote a smooth transition in markets, but reiterated that it would keep its options open.
