Federal Reserve System: FOMC Statement Hints At September Rate Hike Following 'Soft' Q1 Economic Growth

The U.S. Federal Reserve kept interest rates at historic lows Wednesday, following the release of a disappointing gross domestic product report that revealed the U.S. economy grew slower than expected in the first quarter. The central bank said business investment "softened," the recovery in the housing sector remained slow, and exports declined, suggesting the central bank will likely wait to raise rates until after its June meeting.