Wall Street rose to a new all-time high today after the Federal Reserve surprised investors and said it would not cut its bond-buying program, which helps support the economic recovery with lower interest rates.
The Fed, led by chairman Ben S. Bernanke, was widely expected to pull back on its $85 billion a month program to buy mortgage-backed securities and Treasury debt. The pause is good news for investors, who love low interest rates, but also a sign that the economy is not as strong as recently hoped.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)