The Federal Reserve expects to hold rates new zero through 2023. FOX Business’ Edward Lawrence with more.
The Federal Reserve kept interest rates on hold and indicated no major hikes until 2023 while also upping its economic outlook forecast for growth and inflation.
FED KEEPS RATES ON HOLD, LIFTS ECONOMIC PROJECTIONS
The Dow Jones Industrial Average jumped over 100 points on the announcement, driving past the 33,000 level for the first time, while the Nasdaq Composite and S&P 500 also moved up.
INVESTORS DIGEST FED’S COMMITMENT TO LOW RATES UNTIL 2023
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 33016.16 | +190.21 | +0.58% |
| SP500 | S&P 500 | 3974.16 | +11.45 | +0.29% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13525.202471 | +53.64 | +0.40% |
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For more on what Fed Chairman Jerome Powell had to say, follow all the highlights in the FOX Business Blog. Mobile users click here.
