http://money.cnn.com/2013/01/30/news/economy/federal-reserve-policy/index.html?iid=SF_E_River
According to this very interesting article, the Fed decided to put the blame on the weather. However, it does not specify why and how exactly the weather was the cause of the recent economic slowdown. As the Fed keeps its policies of holding the interest rate near zero by continuing to buy $40 billion a month in mortgage-backed securities and $45 billion a month in Treasuries, many fear that it will trigger rapid inflation rate.
As the cost of living and taxes have been rising, the Fed's policies have not been working as well as they should. However, the Fed ran out of options and they declared that they will continue buying securities until the employment rate goes down.
It is interesting to see how the government is reacting under this stress. They might be trying to blame mother-nature to buy themselves more time to come up with something that will help this economy. I am not appreciating how long this has been taking them to do.
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