WASHINGTON— The Federal Reserve announced on April 28 that it would keep U.S. interest rates near zero as the pandemic “continues to weigh on the economy.” The Fed officials expect a temporary spike in inflation due to strong consumer spending as the economy continues to reopen. Following a two-day meeting of the Federal Open Market Committee (FOMC), the U.S. central bank announced it would hold the federal funds rate at a range of zero to 0.25 percent, in line with expectations. “Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened,” the FOMC’s revised statement read. “The sectors most adversely affected by the pandemic remain weak but have shown improvement. Inflation has risen, largely reflecting transitory factors.” At the last FOMC meeting in March, the committee unveiled substantial upgrades to its economic forecasts to reflect the progress on vaccinations and the strong fiscal policy support. Despite an acceleration …