Fed keeps rates stable, reiterates pledge to end some programs, and upgrades its economic outlook

The Federal Open Market Committee just concluded its policy meeting. As expected, interest rates were left unchanged in a range of 0% to 0.25%. The Fed reiterated that several special support programs for commercial paper, primary dealers, and other constituencies will end on February 1, 2010. The Fed will continue to buy mortgage backed securities and agency debt through at least Q1 2010, however. And it kept its pledge to keep rates "exceptionally low" for an "extended period" of time, despite generally upgrading its view of the economy's performance. The full FOMC statement can be found here.