The Fed’s announcement that it was easing its main interest rate caused few ripples in the market because even the size of it was so well anticipated by investors. The central bank began easing rates in September and indicated that more cuts were likely as it focuses more on keeping the job market humming after helping get inflation nearly down to its 2% target.

Wall Street's main stock indexes hit record highs in the run-up to an interest-rate decision from the Federal Reserve on Thursday, extending a sharp rally sparked by Donald Trump's stunning comeback as U.