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Thank you, Fed! Stocks have best day of 2014
The Federal Reserve is going to take its sweet time raising interest rates. And the market couldn't be happier. The Dow and S&P 500 had their best days of 2014. The Dow surged 288 points. The central bank said Wednesday afternoon that it would be "patient in beginning to normalize the stance of monetary policy" and added that this new language is consistent with earlier statements that it plans to keep interest rates low for a "considerable time," which it also kept. Oh J-A-N-E-T, I love you so. Investors had been hoping the Fed would keep the "considerable time" phrase in its statement. By doing so, it appears ... (full story)
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