The central bank left key interest rates unchanged, as expected.
Happily for themarkets, it also stuck to its previous guidance of two rate cuts this year.
Major media companies, broadcasters and exhibitors all ended higher.
Fed chief Jerome PowellGetty Images
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The Dow Jones Industrial Average gained nearly 400 points.
The Nasdaq, S&P 500 and Russell 3000 rebounded too.
Recent indicators suggest that economic activity has continued to expand at a solid pace.
The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid.
Inflation remains somewhat elevated, the Feds Open Market Committee said in a statement.
The Feds dual mandate is to seek maximum employment and keep inflation in check at about 2% level.
It uses interest rates as a tool to keep them in balance.
Powell cautioned that its still early days.
The administration is planning a big round of import taxes to take effect April 2.
If he asked you to leave, would you go?
No, Powell responded.
Do you think that legally you are not required to leave?
