With many eyes on today’s Fed meeting, Investors and analysts alike were given more confidence today by the Fed’s decision to leave rates unchanged. CNN reports that:
The central bank left its key interest rate unchanged Wednesday at the end of a two-day meeting in Washington. The decision was expected, though Fed officials have hinted that a rate hike in December is likely.
While this was expected, any time monetary policy is confirmed amidst such confusing times is a major confidence booster for the markets. With so many questions around tax reform, the stability offered by the Fed’s policy was a welcome sign.
CNBC reports that:
The S&P 500 traded 0.2 percent higher following the announcement. It rose as much as 0.6 percent to a record.
The network did say that there was a slight pull back from earlier daily highs.
With the new Fed Chair decision coming closer every day, there will be a lot riding on the next few Fed decisions to show that Yellen’s policy will be carried through to the end. Investors seem quite certain that a hike is coming in December, but be ready for anything.
To read CNN’s article on the Fed decision, click here.
To read CNBC’s article on how the Fed affected the market today, click here.
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