The Federal Reserve said on Wednesday that the fate of the US economy depends on the course of the pandemic and the vaccine rollout, and pledged to keep rates low until employment recovers. "The ongoing public health crisis continues to weigh on economic activity," the Fed's policy-setting Federal Open Market Committee (FOMC) said following its first meeting of the year. "The path of the economy will depend significantly on the course of the virus, including progress on vaccinations." The FOMC said it will keep the benchmark lending rate low until inflation rises to two percent, and the economy achieves "full employment." hs/cs