Federal Reserve

How major US stock indexes fared Wednesday

Stocks gave up a big rally and took a dive in afternoon trading Wednesday after the Federal Reserve raised interest rates again and said it plans to keep raising them next year.

Text of the Fed's statement after its meeting Wednesday

Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate.