(CNBC) -- Stocks traded slightly higher on Wednesday after the Federal Reserve indicated it will likely not raise rates in 2020, removing the fear among investors that it would repeat a mistake it made last year by tightening monetary policy prematurely and knocking the stock market.
The Dow Jones Industrial Average rose 27 points, or 0.1. The S&P 500 climbed 0.3% and Nasdaq Composite advanced 0.4%.
The Fed kept interest rates unchanged on Wednesday, following three decreases in a row. The central bank also indicated it does not expect any policy changes through at least 2020.
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