The Fed's Unexpected Gift
What began as a good day on the market became a very good day indeed later in the afternoon, after the Federal Reserve released the minutes from its last meeting. The bottom line from those minutes: The Fed will be taking an open-ended approach to interest rates, which may stay low in the short term even if employment and inflation hit normal levels.
In this segment from Wednesday's Investor Beat, host Chris Hill and Motley Fool analyst Matt Argersinger discuss the move by the Fed, and why the market was so reassured by the news.
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