Fed changes policy language but says it didn’t; stocks rise about 2%

Stocks got a boost on Wednesday from the Federal Open Market Committee, which said that, based on its current assessment of economic and market conditions, “it can be patient in beginning to normalize the stance of monetary policy.” Up from the open today, stock prices shot higher after the 2:00 release of the Fed’s post-meeting policy statement and ended today’s trading with the Dow Jones Industrials up 288 points or 1.7%; the S&P 500 and NASDAQ were each up a little more than 2%.
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