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17 Dec 2014
US Stocks off highs as Fed chairman speaks
FXStreet (Mumbai) - The major US indices are off the highs after the Federal Reserve (Fed) chair.Yellen indicated a faster economic growth may translate into a possible policy normalization sooner.
The DJIA rose nearly 300 points after the Fed said it "can be patient" over any decision to raise interest rates. However, the index now trades 207 points or 1.22% higher at 17,276.50 levels. Meanwhile, the S&P rose as much as 2% before paring gains to 1% after Chair Janet Yellen said a rate increase is possible at every meeting. However, the equities stay strong since the Fed chair does not foresee the first increase in interest rates for “at least the next couple of meetings”.
The DJIA rose nearly 300 points after the Fed said it "can be patient" over any decision to raise interest rates. However, the index now trades 207 points or 1.22% higher at 17,276.50 levels. Meanwhile, the S&P rose as much as 2% before paring gains to 1% after Chair Janet Yellen said a rate increase is possible at every meeting. However, the equities stay strong since the Fed chair does not foresee the first increase in interest rates for “at least the next couple of meetings”.