The Federal Reserve Bank made it's decision to keep interest rates unchanged at 0.00 – 0.25 percent. This is the same level that the overnight bank lending rate has been since December 2008. The Federal Reserve also said that they would continue with it's quantitative easing or treasury purchasing program.
The central bank did not mention the sharp increase in the 10 Year Treasury Note yield. The yield on the 10 year Treasury has risen by nearly a full point since the last Fed meeting on November 3rd, 2010. Remember a higher yield on the 10 Year Treasury Note increases mortgage rates and that is something that the Fed has verbally said that they would try and keep low. In any case a stronger yield is telling the world that inflation is creeping in the market as the Federal Reserve insists that inflation is very low. It is very difficult for many traders and investors to say that inflation is low and contained when gasoline, gold, silver, copper, cotton, and most other commodities remain at highs for the year.