Thursday, March 19, 2015

Global shares edged up today after the Fed dropped its "patient" philosophy toward raising rates, but downgraded its views on the economy, inflation and lowered its interest rate trajectory. The statement would put a June increase on the table, but the dovish tone suggested the first hike wouldn't come until at least September or October. In the wake of the Fed's cautious words, the dollar clawed back much of the ground it lost on Wednesday, after posting its biggest daily fall in 18 months. U.S. Dollar Index +1.8% to 99.08.