BREAKING NEWS FROM THE FED! CLICK TO READ

The Federal Reserve said it will ‘await more evidence’ on the state of the economic recovery before it begins scaling back its $85-billion-per-month bond-buying program. Wall Street analysts broadly expected the central bank to begin tapering at this meeting. A set of projections provided along with the statement said most members of the Fed’s policy-setting board expect to begin raising short-term interest rates in 2015. The markets swung into positive territory on the news, with the Dow rallying nearly 100 points, or 0.6%. Treasury yields are falling sharply.

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