Fed announcement drives new record close for Dow Jones

The Dow Jones industrial average closed at a record high today after a Federal Reserve announcement affirming the continuation of a near zero short-term interest rate for a “considerable time.”

“There are still too many people who want jobs but cannot find them, too many who are working part time but would prefer full-time work, and too many who are not searching for a job but would be if the labor market were stronger,” said Federal Reserve chairwoman Janet Yellen at a Wednesday news conference.

The Dow rose 24.88 points to its record close of 17,156.85.