Dow: Stocks close high

Wall Street managed a tiny gain today, enough to give the Dow Jones industrial average another record close, after the Federal Reserve stoked some fears of inflation pressures but implied that it is not intent on raising interest rates.

The Fed’s Open Market Committee kept the nation’s benchmark rate unchanged at 5.25% for a third straight meeting, but it noted in its accompanying policy statement that recent readings on inflation have moved higher recently. Stocks waffled after the Fed’s decision was released as investors worried that inflation concerns could prompt the central bank to resume its rate increases in the future.