The Globe and Mail reports in its Thursday edition that U.S. and Canadian stocks rallied Wednesday after the Federal Reserve kept rates unchanged as widely expected and indicated that two quarter-point interest-rate cuts were still likely later this year despite growing concerns about tariffs sending inflation higher. A Reuters dispatch to The Globe says the S&P/TSX Composite Index ended at 25,069.21, up 363.14, its biggest advance since Aug. 8 and its highest close since Feb. 28. The Fed kept its benchmark overnight interest rate unchanged in the 4.25-per-cent to 4.5-per-cent range. The Fed also forecast slower economic growth and higher inflation. Policy-makers disagreed about the path forward, pointing to uncertainty among members about how to handle the effects of U.S. President Donald Trump's chaotic decrees. Stocks have come under selling pressure in recent weeks after a string of economic indicators signalled the U.S. economy and consumer sentiment may be cooling as trade policy concerns grow. Still, equities have shown signs of bottoming by registering gains in three of the past four sessions. In Toronto, Shopify jumped 8.3 per cent, Couche-Tard climbed 6.3 per cent while financials rose 1.2 per cent.