The Federal Reserve announced that it will keep short-term interest rates close to zero through mid-2013 as a means to support the stalled economy.

“The committee now expects a somewhat slower pace of recovery over the coming quarters,” Fed officials said in a statement to explain the extension in low short-term interest rates. “The unemployment rate will decline only gradually.”

The Fed did not, however, make any moves on long-term interest rates or any other means to help stimulate the economy or help lower the unemployment rate.