Stocks on Wall Street surged and oil prices jumped as much as 5 percent on Wednesday after the Federal Reserve indicated it preferred a more gradual path to normalizing U.S. interest rates even as it moved toward its first rate hike in almost a decade. The dollar tumbled against other major currencies and the U.S. 10-year Treasury yield dipped below 2 percent for the first time since March 2 after the Fed appeared to argue against a June rate hike as many in the market had expected. The Fed in its statement following a two-day meeting of policy-makers slashed interest rate projections over the next few years and downgraded its outlook on the U.S. economy. “What’s really significant is that they downgraded their assessment of the economy, and that means rates will stay lower for longer. And when they do start to rise, they will […]