U.S. Federal Reserve said on Wednesday that it will continue adopting the current ultra-loose monetary policy in an effort to bolster tepid economic growth and reduce the high unemployment rate.

"Information received since the Federal Open Market Committee ( FOMC) met in September suggests that economic activity has continued to expand at a moderate pace in recent months," [Hong Kong Company Formation, Incorporation, Business Registration]the FOMC said Wednesday in a statement after a two-day policy meeting.

Growth in employment has been slow, and the unemployment rate remained elevated. Household spending has advanced a bit more quickly, but growth in business fixed investment has slowed, said the FOMC, the central bank's powerful interest rate setting panel.

U.S. economy grew at an annual rate of 1.3 percent in the second quarter this year, far from a strong pace to reduce the unemployment rate hovering at 7.8 percent.

The U.S. housing sector has shown some further signs of improvement, albeit from a depressed level. Inflation recently picked up somewhat, reflecting higher energy prices, but inflation over the medium term likely would run at or below the central bank 's 2-percent objective, said the Fed.[Hong Kong Company Formation|Hong Kong Company Registration]

Some economists have warned that the Fed's ultra-loose monetary policies might spark inflation, but U.S. inflationary pressure has remained tame so far.