Global stocks rise after Fed keeps rates on hold; oil falls [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
Global stocks rise after Fed keeps rates on hold; oil falls - Reuters 5 Min Read NEW YORK (Reuters) - Global equity markets rose on Wednesday after the Federal Reserve indicated interest rates would remain on hold for some time - a positive for risk assets - while oil prices fell after data showed an unexpected increase in U.S. crude inventories. New projections showed 13 of the U.S. central bank’s 17 policymakers foresee no change in rates until at least 2021 as moderate economic growth and low unemployment are expected to continue through next year’s presidential election. That outlook nudged stocks on Wall Street higher as investors await a decision on whether U.S. President Donald Trump would allow his promised new tariffs on almost $160 billion of Chinese goods to go forward on Sunday. The projection of no rate hikes for the foreseeable future is phenomenal when U.S. monetary policy over the last few decades is considered, said Kristina Hooper, chief global market strategist at I
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