Stocks turn higher after Fed says it will keep rates low
Stocks bounced higher on Wall Street Wednesday after the Federal Reserve says it expects to keep interest rates low through 2022 and would keep up its bond purchases. The S&P 500 rose 0.4% shortly after the Fed released its latest policy statement, reversing an early decline. The Nasdaq rose above 10,000 for the first time and was on pace for its third record high close in a row. Markets had gotten off to a shaky start after the Organization for Economic Cooperation and Development said the coronavirus crisis has triggered the worst global recession in nearly a century.
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