Markets End Higher on Upbeat Yellen Comments on U.S. Economy

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Markets End Higher on Upbeat Yellen Comments on U.S. Economy

Markets End Higher on Upbeat Yellen Comments on U.S. Economy
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Markets End Higher on Upbeat Yellen Comments on U.S. Economy

by TheStreet 1:38 mins

U.S. markets ended solidly in the green following the FOMC's announcement that it would trim its bond buying program to $35 billion in July. Following the two-day meeting, the central bank cut its forecast for U.S. economic growth for 2014 to between 2.1 percent and 2.3 percent from its previous projection of around 2.9 percent. But, its forecasts for 2015 and 2016 remained unchanged. The Fed says the unemployment rate will decline faster than they had expected in March. The Fed predicted the unemployment rate would end the year between 6-6.1 percent. They say the decline is more a result of a shrinking work force rather than job growth. Ruben Ramirez reports from Wall Street.

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