March 17, 2021
After dropping earlier in the session, stocks and index ETFs spiked briefly after the Federal Reserve meeting release Wednesday afternoon, which revealed that the central bank plans to maintain low interest rate levels and bolster the economy as necessary.
“The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals,” the press release said.
Investors and traders had been anxiously awaiting the Fed meeting with Federal Reserve Chairman Jerome Powell this week, leaving markets on edge and tilting lower, after climbing higher in recent days.
Fed sees higher growth, above target inflation this year, rates remain steady
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