Fed Minutes Soothe Interest Rate Worries, Stocks Climb

Fed Minutes Soothe Interest Rate Worries, Stocks Climb (Bloomberg)

Minutes from the U.S. Federal Reserve’s last minutes have clarified for investors the timing of future possible interest rate raises, and stocks rose on the news, breaking out of a three-session slump. “These minutes are calming for the markets,” Jeffrey Kleintop, chief market strategist at LPL Financial LLC, said. “It was clearly stated that the projections overstated the likely shift in rates. A slower pace of interest rates seems more likely here than from the statements.”