Wall Street Rallies After Fed Meeting

4 weeks ago U.S. stock indexes are rising after the Federal Reserve kept its main interest rate steady, as was widely expected. The S&P 500 climbed 1.7% Wednesday afternoon. The Dow Jones Industrial Average added 589 points, and the Nasdaq composite rose 2.3%. The steady gains followed weeks of sharp swings. Treasury yields fell in the bond market after the Fed said it would begin paring the monthly reductions of its trove of Treasurys beginning in April. By reinvesting more in Treasurys each month, the Fed will essentially be helping to keep longer-term yields lower than they would otherwise be.