The Federal Reserve said Wednesday it sees further signs of improvement in the U.S. economy, but not enough to start raising its key interest rate from near 0 percent anytime soon.

The Fed's statement Wednesday once again spoke of a U.S. economy now in recovery, stating that "economic activity has continued to strengthen and that the labor market is beginning to improve."But the central bank made little change in its language used to describe the outlook for its policy, saying it expects that economic conditions will "warrant exceptionally low levels of the federal funds rate for an extended period," as it has at every meeting since June of last year.

The Federal Reserve said Wednesday it sees further signs of improvement in the U.S. economy, but not enough to start raising its key interest rate from near 0 percent anytime soon.

The Fed's statement Wednesday once again spoke of a U.S. economy now in recovery, stating that "economic activity has continued to strengthen and that the labor market is beginning to improve."

But the central bank made little change in its language used to describe the outlook for its policy, saying it expects that economic conditions will "warrant exceptionally low levels of the federal funds rate for an extended period," as it has at every meeting since June of last year.

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