Market Rally Fading

stocks

Photo: Google Finance

Stocks jumped after the Fed released its latest FOMC statement.However, the rally has been fading for much of the afternoon, and stocks are now about to go negative.

The Fed announced it adopted quantitative targets to guide monetary policy.  Specifically, it’ll keep rates “exceptionally low” as long as unemployment stays above 6.5% and inflation stays at 2.5% or lower.

They also announced that they would boost their existing quantitative easing program with $45 billion worth of monthly Treasury purchases, an effort to keep interest rates low.

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