1st LD: U.S. Fed keeps interest rates near zero amid slowing economic recovery

WASHINGTON, Jan. 27 (Xinhua) -- The U.S. Federal Reserve on Wednesday kept its benchmark interest rate unchanged at the record-low level of near zero, as the country grapples with slowing economic recovery amid surging COVID-19 cases.

"The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic," the Fed said in a statement after concluding its first policy meeting of 2021.