WASHINGTON (AFX) - The Federal Open Market Committee statement released after its meeting today reinforces expectations that the Federal Reserve is in no hurry to tighten US credit conditions, analysts said. The statement also ignored the WorldComm Inc bookkeeping scandal, implying that the Fed still believes that the next move will be to raise, not lower, interest rates, they said. "The FOMC is in no hurry to do anything," said Robert Brusca, chief economist at Ecobest in New York. As expected, the FOMC announced a unanimous decision to keep its target for the federal funds rate unchanged at the 40-year low level of 1.75 pct. The maintained its easing bias, saying the risks are balanced between growth and low inflation. In its statement, the FOMC noted that growth in final demand has moderated in the second quarter. But policymakers quickly added that they expect demand to pickup again in coming quarters, although the extent of the strength "remains uncertain." Joshua Shapiro, economist at Maria Fiorini Ramirez, said the FOMC statement indicates that the Fed is satisfied to remain on hold. It is a classic "sitting-on-our-hands statement," Shapiro said. "November is the earliest one can make a reasonable case for tightening, but it's quite possible they do nothing all year," he added. Lyle Gramley, former Fed governor and now senior economist at Charles Schwab Capital Markets, said the Fed's statement was "reasonably optimistic." "There is a lot of gloom and doom floating around - but its tied to the stock market," Gramley said. "There is a crisis of confidence on Wall Street, but it hasn't spilled over to Main Street," he said. If this gloom did take hold on Main Street, the Fed would be quick to ease interest rates, Gramley said. The odds of that are "very low but not zero," he added. Mike Moran, chief economist at Daiwa Securities America Inc, said the most important part of the FOMC statement was that they retained the phrase that current monetary policy is "accommodative." "The FOMC minutes from the March meeting indicated that this phrasing was meant to convey the collective view of the FOMC that rates will need to be raised at some point in the future. Apparently, this view still prevails," Moran said.