U.S. keeps rate at record lows

The Federal Reserve sounded a more confident note Wednesday that the economy is strengthening but pledged to hold rates at record lows to make sure it gains traction. After a two day meeting, the Reserve decided 9 to 1 to keep the lows for an "extended period of time" to help energize the recovery. It says the job market is "beginning to improve" and that the unemployment rate is "stabilizing." The Reserve also noted consumer spending has now "picked up."

• 2010-04-30T05:04:37+00:00
• Duration: 00:35

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U.S. keeps rate at record lows