Wall Street Settles Higher Following Fed’s Decision

Wall Street closed higher on Wednesday, supported by recent remarks from the US Federal Reserve Chair, Jerome Powell.

Powell reiterated the Fed’s commitment to continue supporting the economy until it fully recovers from the repercussions of the COVID-19 crisis.

All the major indices at the New York Stock Exchange (NYSE) closed in green, as the Dow Jones Industrial Average gained 160.3 points or 0.61%, while S&P 500 increased by 40 points or 1.24%, and Nasdaq Composite Index settled higher by 140.9 points or 1.35%.

The Federal Reserve has decided to maintain the current range for interest rates between 0% and 0.25%.