Global stocks rallied and the U.S. dollar slid to a three-year low against major
currencies on Wednesday after the Federal Reserve signaled itwould retain
extensive support for the U.S. economy.
Wall Street advanced broadly and oil rose after the Fed
said in a statement it believed the recovery was proceeding at
a moderate pace and pledged to keep interest rates, now near
zero, extraordinarily low for "an extended period."
The Nasdaq surged to a 10-year high and gold rose to a
record above $1,525 an ounce after Fed chairman Ben Bernanke
reiterated the Fed's stance that inflation was a transitory
problem related largely to commodity price pressures.
Translation: Gas prices continue to go up while it will become more expensive for U.S. Companies to acquire amine from Japan.