Date: March 16, 2011/ 1"07amGMT

Bloomberg

• Fed Sees U.S. Economy on a "Firmer Footing" as it Affirms Bond Purchases

Federal Reserve policy makers said U.S. growth is becoming more durable and higher energy prices will have a temporary effect on inflation as they affirmed plans to buy $600 billion of Treasuries through June. According to Federal Open Market Committee, U.S. economic recovery is on a firmer footing as labor market appears improving though it's gradual. The committee said that inflation effect on the cost of commodities is just "transitory" and official will pay attention to the evolution and inflation expectations. Fed Chairman Ben Bernanke and his colleagues, dropped language that economic recovery is "disappointing slow" and that consumer spending is influence by "tight credit" cause holding back to consumer spending.