Shares of mining companies and other commodity producers gave back most of their gains accumulated in the wake of the Federal Reserve's policy statement as traders digested the implications of planned rate increases.
Gold futures, which had fallen ahead of the central bank meeting, continued their revival as the Fed's schedule for 2018 wasn't as aggressive as some investors had feared. Still, Fed Chairwoman Janet Yellen noted she anticipated low inflation to be a temporary phenomenon, meaning the central bank could respond to any return of inflation. "The Fed appears to be sticking to the 'transitory' view on inflation, which could likely become a problem for the Fed at upcoming meetings," said Charlie Ripley, senior investment strategist for Allianz Investment Management.
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(END) Dow Jones Newswires
December 14, 2017 17:22 ET (22:22 GMT)