(CNBC) — U.S. stocks closed higher Wednesday, helped by a rise in oil prices, following the release of the Federal Reserve's statement and economic projections.
Fed Chair Janet Yellen said in a press conference following the statement release that policymakers have not concluded inflation has seen a significant, lasting uptick.
The Dow Jones industrial average briefly gained 100 points, with Chevron, Caterpillar and IBM among the top contributors to gains. Goldman Sachs was the greatest contributor to declines.
Advertisement - story continues below