The Dow rose 0.19%, the S&P 500 gained 0.28% and the Nasdaq was up 0.27%. (EPA Images pic)NEW YORK: US stock indexes advanced on Wednesday after the US Federal Reserve left its key policy rate unchanged, as widely expected, leaving investors betting on a rate hike at its next monetary policy meeting in December.
In its accompanying statement, the Fed upgraded its assessment of the economy while acknowledging inflation "remains elevated". At the press conference following the release, Fed chair Kevin Warsh said the central bank has made clear its willingness and readiness to act.
"The Fed didn't throw any curveballs," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "It was widely expected they'd hold, so no big surprise there."
