(CNBC) — U.S. stocks rose on Wednesday, with the Dow on track for a record close, after the Federal Reserve stuck to its script, saying it was nearing the end of its asset purchases and reiterating it would not hike interest rates for a 'considerable' period.
"Basically not much change in Fed policy; they'll only move when they are very comfortable that conditions have improved significantly. The overall path for policy that they've been on continues to be a path they are comfortable with," said Kate Warne, investment strategist at Edward Jones.
In its statement released after its two-day meeting, the Fed left largely intact key provisions and cut its bond buying down to $15 billion a month, while indicating the asset purchases would end altogether in October.
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