Fed votes to keep interest rates low

WASHINGTON. The Federal Reserve expressed growing confidence yesterday that an economic recovery was building, even though it stuck to its commitment to keep borrowing costs near zero for “an extended period.”

The central bank voted unanimously to keep benchmark overnight interest rates in a range of zero to 0.25 percent. The Fed said the U.S. economy had “continued to pick up” but it expressed concern that the recovery was likely to be muted.