Economics
Stocks Rise, Dollar Falls on ‘Accommodative’ Fed: Markets Wrap
- Central bank holds rates steady in final meeting of year
- Dollar extends declines; crude oil fall after inventory build
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U.S. stocks rose with Treasuries, while the dollar fell after the Federal Reserve left interest rates unchanged and its chairman signaled it would keep policy “somewhat accommodative.”
The S&P 500 halted a two-day slide as investors viewed the last Fed decision of the year as dovish because the central bank signaled rate hikes are unlikely unless there is a meaningful change in the outlook for the economy. The 10-year Treasury rate fell below 1.8%.