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Article: Wall Street gives up some gains ahead of Fed news
- Article from:
- AP Online
- Article date:
- March 18, 2009
- Author:
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Stocks gave back some of their recent gains Wednesday as investors awaited details from the Federal Reserve's meeting on interest rates.
The Fed is expected to leave rates at their historically low levels, but the market is anxious to see how the central bank assesses the economy in its statement accompanying the rate decision. Investors also want to know if the Fed has any further moves planned to help boost the economy. The Fed news is expected at midafternoon.
The slight pullback marked a pause in the market's blockbuster advances over the past week which have lifted major market indicators more than 10 percent on growing optimism that U.S. banks may be returning to ...