Stocks Soar as Federal Reserve Keeps 'Considerable Time' Phrase

The Federal Reserve is keeping its vague 'considerable time' language in its statement, saying short-term interest rates will remain low for a considerable time after its bond stimulus, known as quantitative easing, ended back in October. Though the central bank says it will remain patient on raising rates. The stock market soared after the news was announced, as investors are worried that stocks will look less attractive once interest rates rise. TheStreet's Scott Gamm speaks with Stuart Hoffman, the Chief Economist at PNC Financial Services Group to discuss the latest Fed statement and what to watch in the coming months.