The Federal Reserve is leaving key interest rates unchanged at historic lows and maintaining one of its key stimulus measures.
The Fed announced today that it will continue to snap up $85 billion worth of securities every month in a process known as "quantitative easing."
It's meant to keep interest rates low and spur the economy. There had been widespread speculation that the Fed would ease back on its securities purchases.
It also elected to keep interest rates stable. Stocks spiked after the news.
In its latest statement, the Fed said there are signs that economic activity is expanding at a moderate pace. Unemployment remains elevated, mortgage rates continue to rise, and inflation expectations remain stable.