Washington, Jan 26 : The US Federal Reserve plans to keep key interest rates exceptionally low at least through 2014.

The US economy has been "expanding moderately", the Federal Open Market Committee (FOMC) said in a statement, noting that the unemployment rate remains high, growth in business has slowed and the housing market remains depressed.

The Fed's policy board expects to maintain a "highly accommodative stance" for monetary policy to support a stronger economic recovery, Xinhua reported.

The Fed "currently anticipates that economic conditions -- including low rates of resource utilization and a subdued outlook for inflation over the medium run -- are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014," the statement said.(IANS)