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Wall Street rallies on gradual Fed tightening, improving economy

U.S. stocks rallied on Wednesday after the Federal Reserve announced it is raising its key policy rate for the first time in nearly a decade in a sign of confidence in the U.S. economy. Markets judged the Fed’s statement to be dovish, supportive of risk assets including equities. The Fed made clear that the 25-basis point rate hike was a tentative beginning to a “gradual” tightening cycle, and that in deciding its next move it would put a premium on monitoring inflation, which remains mired below target.
Source: Yahoo Finance

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