[19 June 2014, CITY A.M.] By Oliver Smith: The S&P 500 closed at a new record high last night as US stocks rose in the wake of the Federal Reserve striking a dovish tone in its post-meeting statement.

The Fed hinted at a slightly faster pace of interest rate increases starting next year, but also suggested long-term rates would be lower than indicated previously.

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www.cityam.com/1403140553/sp-hits-record-after-fed-assures-markets-rates-and-economy