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Stocks rise as Fed keeps aggressive easing in place

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(Globalpost/GlobalPost)

US stocks recorded solid gains Wednesday as the Federal Reserve held steady on its policy of economic stimulus.

At the closing bell, the Dow Jones Industrial Average gained 55.91 points (0.39 percent) at 14,511.73.

The broad-based S&P 500 picked up 10.37 (0.67 percent) at 1,558.71, while the tech-rich Nasdaq Composite Index increased 25.09 (0.78 percent) to 3,254.19.

The Federal Reserve, as widely expected, kept its monetary easing policies in place as it trimmed its 2013 and 2014 growth forecasts for the US economy.

The policies have boosted shares and been seen as a major factor in recent record peaks on the Dow.

A note from Barclays predicted the Fed "will continue its asset purchase program at a rate of $85 billion per month through the end of the year, before beginning to slow purchases sometime in the first half of 2014."

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http://www.globalpost.com/dispatch/news/afp/130320/stocks-rise-fed-keeps-aggressive-easing-place