Economic situation in US and slow recovery from recession means rate will remain at close to zero ‘through to late 2014′ The US Federal Reserve said on Wednesday night it expected to keep short-term interest rates close to zero “at least through to late 2014″ – longer than previously indicated – as chairman Ben Bernanke expressed concerns about the pace of the recovery. This means the Fed fears the US economy will not fully recover from the recession that started in 2008 for at least another two years