WASHINGTON—The Federal Reserve announced on Sept. 22 that it would keep U.S. interest rates near zero as “risks to the economic outlook remain.” The central bank revised up its inflation projections significantly for this year and said the announcement for tapering of bond purchase could come “soon.” The central bank also downgraded its growth forecasts to reflect the economic impact of the Delta variant. “The sectors most adversely affected by the pandemic have improved in recent months, but the rise in COVID-19 cases has slowed their recovery. Inflation is elevated, largely reflecting transitory factors,” according to the revised statement from the Federal Open Market Committee (FOMC). At the end of a two-day meeting of the committee, Fed officials said they would hold the federal funds rate at a range of zero to 0.25 percent, in line with expectations. Fed’s inflation projections increased materially for this year, with core inflation at 3.7 …