Thursday, September 17, 2015

U.S. Stocks Climb As Janet Yellen Explains Fed’s Rate Decision

By Anora Mahmudova, Sep 17, 2015 Market Watch

U.S. stocks on Thursday stepped higher after the Federal Reserve announced that it has left benchmark interest rates unchanged and as the central bank’s Chairwoman Janet Yellen explained the Fed’s moves.

Fed policy makers voted 9-1 to keep interest rates near zero due to global headwinds that could slow the economy and keep inflation subdued.

“Clearly the Fed was worried about developments abroad and that was, at first blush, the primary reason why rates were not raised this month,” said Dan Greenhaus, chief strategist at BTIG in emailed comments.

Stocks added to gains after Yellen’s news conference began at 2:30 p.m. Eastern.

These are the five things to listen for during Janet Yellen’s news conference.

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