Stock Market Today: Fed Frazzles Stocks, But Buffett Scores Big

The Federal Reserve spooked stocks Wednesday by painting a gloomy picture of the economy, but the sun shined on a norm-breaking Buffett investment.

(Image credit: Getty Images)

Wall Street saw an uneven day of trading Wednesday despite the announcement of continued accommodative policy from the Federal Reserve.

The Fed indicated that it was unlikely to raise rates above current near-zero levels until at least the end of 2023, which investors initially cheered. It also effectively set two conditions – "maximum employment" as well that has inflation that "has risen to 2 percent and is on track to moderately exceed 2 percent for some time" – that could lead to difficult compromises down the road.

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Kyle Woodley was long BA as of this writing.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for, and the Managing Editor for before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.