The Fed is dropping the “patient” stance
The Federal Reserve announced today that they were dropping the “patient” stance from their statement. Also the Fed hinted that there would be no rate hike in April. Interestingly, the Fed also lowered their growth forecasts for 2015. The S&P 500 was down 0.6% on the day prior to the announcement, but it is currently up 0.63% after the announcement.