Stocks, yields slide as Fed signals no rate cut soon
NEW YORK (Reuters) -Treasury yields and a gauge of global equities fell sharply after the Federal Reserve left interest rates unchanged as expected on Wednesday but indicated it would not reduce them until inflation was "moving sustainably" towards its 2% target. The Fed took a major step towards lowering rates in coming months in a policy statement that tempered inflation concerns with other risks to the U.S. economy and dropped a longstanding reference to possible further hikes in borrowing costs. The dollar rose against the euro and other major currencies after Fed Chair Jerome ...
Source: yahoo.com
