The US Federal Reserve kept its benchmark interest rate unchanged Wednesday and announced the gradual end to a crisis-era stimulus program in a sign the economy is on sound footing. The Fed statement following its two-day policy meeting noted that the devastation caused by Hurricanes Harvey, Irma and Maria are "inflicting severe hardship" on communities.

However, the central bank said the economic impact of the storm is likely to be felt only in the near term. It cited past experience which has shown that "the storms are unlikely to materially alter the course of the national economy over the medium term." Higher prices for gasoline and some other items "in the aftermath of the hurricanes will likely boost inflation temporarily."

Copyright Agence France-Presse, 2017