New York: Major U.S. stock indexes rose on Wednesday after the Federal Reserve announced it would keep interest rates unchanged.
According to Jordan News Agency, Fed Chair Jerome Powell stated that substantial and sustained tariff increases are “likely to lead to higher inflation, slower economic growth, and increased unemployment.”
The Dow Jones Industrial Average climbed 285 points to 41,114. The tech-heavy Nasdaq Index gained 48 points to reach 17,738, while the S and P 500 rose about 24 points to 5,631.
Meanwhile, U.S. crude oil prices saw a decrease of approximately one dollar, with West Texas Intermediate (WTI) settling at $58.08 per barrel.