Elevate your local knowledge

Sign up for the iNFOnews newsletter today!

Select Region

Selecting your primary region ensures you get the stories that matter to you first.

Stocks, bonds rise after Fed indicates no hurry on first rate increase in nearly a decade

NEW YORK, N.Y. – Stocks are rallying after the Federal Reserve indicated that it’s not in a hurry to raise interest rates.

In a statement released at the end of a two-day policy meeting Wednesday, the Fed forecast that the U.S. unemployment rate can fall further without spurring inflation.

The Dow Jones industrial average jumped after the Fed news. The Dow was up 145 points, or 1.4 per cent, at 17,990 as of 2:15 p.m., fifteen minutes after the Fed’s statement was released. It was down 115 points just before.

Treasurys also rallied, pushing the yield on the 10-year note below 2 per cent. The dollar dropped against the euro.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles