You are here


Markets celebrate the end of uncertainty

The rally is in some ways a vindication of the Fed's policy manoeuvres since the financial crisis

Even after Wednesday's stock rally, the broad Standard & Poor's 500 index is almost exactly where it started in January. It seemed as if the traders in New York Stock Exchange stood all year waiting for the Fed to move.

IF THE outbreak of World War II traditionally closes the chapter on the Great Depression in economic history books, the Federal Reserve's policy move on Wednesday will likely end the chapter on the Great Recession.

Chairwoman Janet Yellen's Fed raised interest rates for the first time