Investors disappointed, but not surprised, by Fed's non-action
NEW YORK — The Federal Reserve didn't surprise investors but still left them disappointed.
Stocks closed mostly higher yesterday after the Fed said the economy was on the mend and orders for big-ticket manufactured items posted an unexpected increase. Although the Dow Jones industrials fell modestly, the broader market measures ended the day with gains.
The central bank's decision to leave its key lending rate at a low of zero to 0.25 percent was anticipated but some investors have been hoping the central bank would do more to help revive the economy. Others wanted the Fed to more clearly lay out how it will keep inflation in check.