Fed decision depresses markets despite positive outlook


Markets reacted badly to the Federal Open Market Committee (FOMC) statement on Wednesday despite the central bank flagging signs of recovery.

The FOMC was more upbeat on economic activity, saying it had picked up following the severe downturn - a departure in tone from August, when it said only that activity [was] levelling out. The committee soothed fears of a rate hike in the near future by re-iterating its commitment to keep the federal funds target range at its current level "for an extended

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