The US markets ended higher on Wednesday after the Federal Reserve forecast stronger economic growth and higher inflation this year and indicated it expects to keep interest rates at near-zero levels through 2023. The Fed provided updated forecasts along with the announcement of the its universally expected decision to maintain the target range for the federal funds rate at zero to 0.25 percent. The Fed also reiterated it plans to continue purchasing bonds at a rate of at least $120 billion per month until substantial further progress has been made toward its policy goals.
The Fed said members now expect US GDP to soar by 6.5 percent in 2021 compared to the 4.2 percent spike forecast last December. The forecast for the pace of growth in core consumer prices, which exclude food and energy prices, was also upwardly revised to 2.2 percent from 1.8 percent. It acknowledged that indicators of economic activity and employment have turned up recently.
Dow Jones Industrial Average rose 189.42 points or 0.58 percent to 33,015.37, Nasdaq gained 53.63 points or 0.4 percent to 13,525.2 and S&P 500 was up by 11.41 points or 0.29 percent to 3,974.12.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: