U.S. Stocks Climb as Fed Reiterates Support

The Fed left rates near-zero at the end of Wednesday’s policy meeting, saying it would continue increasing holdings of Treasurys

Economists have long used letters of the alphabet like V and U to describe economic recoveries. But the coronavirus downturn is so different from past recessions that economists are coming up with new shapes to describe the potential recovery. WSJ explains. Illustration: Jacob Reynolds

U.S. stocks climbed Wednesday as Federal Reserve officials reiterated their support for an economy battered by the coronavirus pandemic.

Major indexes opened modestly higher and gains accelerated after the Fed, as expected, left rates near zero at the end of its two-day policy meeting. The central bank also said it would continue increasing holdings of Treasurys and other securities.

“It’s...

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