The Federal Reserve on Wednesday decided to hold interest rates at a record low and pledged to keep them there for an "extended period" in an effort to aid the economic recovery and lower the unemployment rate. The Fed kept its target range for its bank lending rate at zero to 0.25 percent, where it has stood since last December. In response, commercial banks' prime lending rate, used to peg rates on home equity loans, certain credit cards and other consumer loans, will remain about 3.25 percent-the lowest point in decades. The Fed did not, though, make reference to signs of improvement in the housing market, which it had after its previous meeting. The Fed said it still expects to end a $1.25 trillion program aimed at driving down mortgage rates as scheduled on March 31. But it reiterated that it remains open to changing that timetable if necessary.