A day before the US publishes its growth figures for the first quarter of 2011, Federal Reserve chairman Ben Bernanke said growth would be 'a relatively weak number.'
Bernanke admitted that higher petrol prices were causing hardship for Americans, as the Fed faced criticism that it is ignoring rising consumer costs.
Earlier, the Fed kept interest rates at their current ultra-low level, saying the economic recovery continued at a 'moderate' pace while downplaying the effect of soaring oil and commodity prices on overall inflation.
Following the official rates announcement, Bernanke held a question and answer session with journalists, the first regularly scheduled news conference by a Fed chairman in the central bank's 97-year history.
Earlier, the Federal Reserve also said it would end its $600 billion stimulus plan on schedule, but left the door open for future action based on economic conditions.
'The economic recovery is proceeding at a moderate pace and overall conditions in the labor market are improving gradually,' the Fed's policy-making committee said in a statement.
It also said that the US laboúr market, struggling with unemployment at 8.8%, was 'improving gradually.'
