US Market: Fed signals inflation target achieved, and ending bond purchases paved for 3 quarter-percentage-point interest rate increases by 2022

On Wall Street, key indices ended sharply higher yesterday after the Federal Reserve said it would end its pandemic-era bond purchases in March as it exits from policies enacted at the start of the health crisis. Wall Street extended gains as Fed Chair Jerome Powell, during his news conference, struck an upbeat tone about the US economic recovery. Following its two-day policy meeting, the Fed signaled its inflation target has been met, and its announcement on ending the bond purchases paved the ...