U.S. stocks wobbled after the Federal Reserve’s monetary policy committee’s meeting concluded on Wednesday. Economic growth has been better than expected but Fed officials also indicated that their projections also assumed that Congress would pass another stimulus bill.
“If we don’t get that [stimulus], there would certainly be downside risks,” Fed Chair Jerome Powell said. Fed officials indicated that there would be no interest rate increases before 2024.
The cautious outlook caused the market to give up earlier gains.