The Fed will remain "patient" in determining when to raise interest rates this year. The Fed's policy statement says: "Based on its current assessment, the Committee judges that it can be patient in beginning to normalize the stance of monetary policy...the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation.