U.S. stocks emerged from their two day slumps Wednesday after the Federal Reserve released its final monetary policy of the year. At the conclusion of the Federal Open Market Committee meeting, the central bank announced that benchmark interest rates would remain unchanged to keep rates at the current target range between 1.5% and 1.75%.

Here's how the three major averages closed Wednesday:

S&P 500 Index (SPY  ): +0.29% or +9.11 points

Dow Jones Industrial Average (DIA  ): +0.11% or +20.58 points

Nasdaq Composite Index (QQQ  ): +0.44% or +37.87 points

In the Federal Reserves new monetary policy statement, the FOMC removed language referring to "uncertainties" over the economic outlook. Instead, the committee said that they determined that "the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective."

In U.S. Economic News, the U.S. Department of Labor's headline consumer price index (CPI) increased greater than expected for November, with prices for energy, medical care, recreation and food all raising. The CPI rose 2.1% year over year, which was higher than expected and a large spike from October's 1.8% rise.

In U.S. Stock Sector News, most sectors saw gains Wednesday as investors enjoyed the Fed's stance on monetary policy for 2020. The sector that posted growth include Materials +0.71%, Information Technology +0.71%, Industrials +0.68%, Utilities +0.33%, Communication Services +0.30%, Consumer Discretionary +0.29%, Health Care +0.17%, and Consumer Staples +0.15%. The few that saw losses include Real Estate -0.76%, Financials -0.21% and Energy -0.16%.

Finally, in Currency and Commodity News, oil prices took a hit in the midweek as data showed an unexpected increase in U.S. crude inventories. West Texas Intermediate saw a price change of almost -0.40% and Brent Crude declined over -0.45%. Gold, however, saw a slight spike in prices with the commodity increasing over +0.70% to cost $1,474.90 per ounce. Lastly, the U.S. Dollar continued its slump, with the DXY Index dropping almost -0.40%.