U.S. Stocks Rise After Fed Decision;
June 29 (Bloomberg) -- U.S. stocks climbed as the Federal Reserve said that inflation remains contained, signaling the central bank may end interest-rate increases earlier than previously expected.
The Fed today raised its target rate a 17th straight time to 5.25 percent from 5 percent and said further moves will depend on the economic data. Indexes reached their highs of the day following the announcement and bond yields decreased.
``It pretty much sounds like they are keeping the same language, which is that they will monitor data going forward,'' said Thomas Garcia, head of trading at Thornburg Investment Management, which oversees about $23 billion in Santa Fe, New Mexico. ``It's a little bit of relief to have it out of the way.''
