FROM NPR

"Fed policymakers observed that the "economic recovery is continuing, though at a rate that has been insufficient to bring about a significant improvement in labor market conditions."

One of the Fed's main reasons for launching the bond-buying program was to lower high unemployment, now at 9.4 percent.

The Fed noted a recent increase in the prices of commodities, such as oil and gasoline, but said it isn't likely to spark high inflation. The prospect that inflation will remain tame gives the Fed leeway to stick with its program, announced Nov. 3, to buy $600 billion worth of Treasury debt by the end of June.

The Fed also kept a pledge to hold a key interest rate at a record low near zero for an "extended period." The Fed has kept rates at ultra-low levels since December 2008 to try to encourage people and businesses to spend more."