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U.S. stocks fell, while Treasuries rose after the Federal Reserve maintained its support for the economy. Policy makers strengthened their view of the economy and said that recent increases in inflation looked “transitory,” reassuring investors that the central bank is in no hurry to tap the brakes on growth. The dollar was lower, the 10-year Treasury rate was at 1.61 per cent and gold was little changed. “No news is good news as far as the market is concerned because it means the Fed will remain accomodative for the near future,” said Ellen Hazen, portfolio manager and principal at F.L.Putnam Wealth Management. “This is a Goldilocks Fed. It is exactly what the equity markets are looking for.”

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