The much-anticipated December meeting from the Fed led to a rally in stocks on Wednesday trading session, even as the central bank took a more aggressive position on winding down its pandemic-era stimulus programs. The Fed announced that it would accelerate the taper of its asset purchases, putting those on track to end early next year. It also said its members expected three rate hikes in 2022. The three major market averages were down before the Fed's statement was. All three reversed higher and then extended their gains to close at session highs as Fed Chair Jerome Powell conducted his news conference.