FED maintains interest rates

The Federal Reserve maintained its target FED funds rate range of between 1.5% and 1.75% on Wednesday.

According to a statement released two days after the FED meeting, the current monetary policy is appropriate to support a sustained expansion of economic activity, strong labor market conditions, and inflation near 2%. The labor market remains strong and economic activity has been increasing at a moderate rate.

US stocks on Wednesday gained following the FED's decision on the interest rate. The Dow Jones Industrial Average, the S and P 500, and Nasdaq all closed up with increases ranging from 0.1 to 0.4%.

Source: VOV5