Thanks to today’s Federal Open Market Committee meeting, the U.S. Federal Reserve has decided to continue its current pace of stimulus tapering. Stocks rose on the news, with the Dow reaching a new closing high. “The Fed seems to be putting aside the weakness in the first quarter that the market reacted to this morning,” Walter Todd, chief investment officer at Greenwood Capital Associates LLC, said. “The statement seems business as usual, and perhaps if you’d seen the Fed react more dovish to a weaker first quarter, that would’ve been more negative.”
In retaliation for the economic sanctions imposed on Russia, Russian President Vladimir Putin has threatened to escalate “economic warfare” against the West by making it increasingly difficult for foreign firms to invest in his country’s vast oil reserves.
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