As the Fed maintains the main interest rate within the range of 0% and 0.25%, it is expected that the benchmark US stock market prices will mostly fall on Wednesday, but it indicates that interest rates will remain low as the economy attempts to cut interest rates for at least the next three years. Get rid of the decline caused by the coronavirus. Dow Jones Industrial Average Dow Jones Industrial Average,
As of 2 pm Eastern Time, the U.S. Index closed slightly down 37 points or 0.1
Driven by XLK technology, it fell 0.5% to about 3,386 points.
Down 1.6%, and communication services XLC,
Down by 1.2%. Contains the high-tech Nasdaq Composite Index COMP
It closed down 1.3% to 11,050. At the same time, the lowercase Russell 2000 Index RUT,
Outperformed its peers with an increase of more than 1% (preliminary data). The Federal Reserve stated that it does not expect to raise interest rates before the end of 2023 at the earliest and has proposed new economic conditions that must be improved. The Federal Reserve stated that it decided to keep interest rates close to 0% and hopes that this will be appropriate before two things happen: labor market conditions have returned to the “maximum employment rate”, the inflation rate has risen to 2%, and “hopefully It was moderately over 2% in February”. a period of time. “Most economists believe that the Fed will postpone its forward guidance until November or December.