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U.S. stocks rose at the opening bell and continued to rise throughout the trading session. Investors and traders breathed a sigh of relief when the Federal Reserve indicated a rate hike is not likely in the short term.
According to the Fed, it is examining multiple strategies to tighten its monetary policy, but no decisions on when, or how to proceed has been made.
“A staff presentation outlined several approaches to raising short-term interest rates when it becomes appropriate to do so, and to controlling the level of short-term interest rates once they are above the effective lower bound, during a period when the Federal Reserve will have a very large balance sheet,” according to the Federal Reserve's
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