Dow, NASDAQ and S&P 500 Produce Solid Gains for the Week

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As expected, the Federal Reserve dropped the “patient” forward guidance language in its policy announcement. Noting that tightening remains unlikely at the April meeting, officials said they want to see further labor market improvement, and be “reasonably confident” of inflation moving toward its 2% target, before lift-off. The statement featured a downgrade of the Fed’s economic assessment.

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