Search ForexCrunch

The Federal Open Market Committee (FOMC) announced on Thursday that it left the benchmark interest rate, the target range for federal funds, unchanged at 0%-0.25% as widely expected. 

Follow our live coverage of the FOMC decision and the market reaction.

Market reaction

The initial market reaction to the FOMC’s Monetary Policy Statement was largely muted. As of writing, the US Dollar Index was down 0.8% on the day at 92.72. Meanwhile, Wall Street’s risk rally remains intact with the S&P 500 and the Dow Jones Industrial Average gaining 2.1% and 2.25%, respectively.

Developing story…