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U.S. stocks added slightly to gains on Wednesday after the Federal Reserve kept interest rates unchanged and said it expected to start winding down its massive holdings of bonds "relatively soon" in a sign of confidence in the U.S. economy. The U.S. central bank's statement did not dramatically sway Wall Street's major indexes, which hit record highs earlier in the session on a busy day of corporate earnings reports. As broadly expected by investors, the Fed maintained its benchmark lending rate and said it was continuing the slow path of monetary tightening.
U.S. stocks continue their foray into record territory Wednesday as the Federal Reserve kept interest rates unchanged and reaffirmed it will soon start reducing its $4.5 trillion balance sheet.