Wall Street Rallies After Fed Stands Pat On Rates
September 24, 2016
Wall Street racked up gains on Wednesday after the U.S. Federal Reserve kept interest rates unchanged, for now leaving intact the low-rate environment that has helped underpin the bull market.
The Nasdaq closed at a record high.
The central bank strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further.
Earlier on Wednesday, global markets reacted to the Bank of Japan’s abrupt shift to targeting interest rates on government bonds to achieve its elusive inflation target.