The U.S. Federal Reserve has left its key benchmark interest rate unchanged, but altered its language regarding a rate hike, saying it will be "patient" in determining when to raise rates.

Commenting on the US Fed, Debopam Chaudhuri, chief economist, ZyFin Research, said, ''US Fed seems to be determined to put an end to easy money with rising faith in the US economic recovery. Fortunately for emerging economies, this eventuality has been parked till the second half of 2015 thereby providing some more time to get their acts in place. India in particular is certainly on a recovery path and should be able to ward off any sudden rise in demand for dollar arising with FIIs flocking to the US markets in post June 2015.''

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