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World stock markets rose Wednesday after the U.S. Federal Reserve indicated that interest rates will remain at super-low levels for a while yet. Meanwhile, the dollar slid to a ten-month low against the yen after the central bank said the currency's decline had been "orderly."
The economy is not growing as fast as the government first thought and the recovery still faces significant obstacles, including households nervous about spending and rising unemployment.
A brighter economic forecast from the Federal Reserve helped the stock market pare losses that followed uninspiring reports on consumer sentiment and housing.