Fed Hints Hikes Are Done

Updated from 2:48 p.m. EDT

Federal Reserve policymakers decided at their latest meeting to again leave rates unchanged, and in a development that energized the bulls, the central bank omitted language from its remarks that suggested further tightening was a possibility.

The Fed dropped its past pronouncement that the "extent and timing of any additional firming that may be needed" will depend on economic data. Those comments were included in the policy statement issued in January.

Many analysts and traders are looking for a cut at some point this year, and the idea that new rate increases could be completely off the table gave hope to that point of view. ...