Fed decision will prompt investors to build portfolios: deVere

The Federal Reserve's critical policy verdict will prompt investors to top-up their portfolios, but they should avoid the ‘rotation trap', the CEO of deVere Group has cautioned. The warning from Nigel Green comes as the U.S. central bank concluded its two-day meeting Wednesday announcing that it will maintain interest rates and bond purchases while upgrading its economic forecast. Seven officials - up from five previously - see a rate rise in 2023 and economic growth is put at 6.5% - up from 4.2% - in 2021. Green says: "This was a tricky and critical meeting for the Fed as they had...