The S&P 500 was near flat on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.

The central bank also, as expected, reduced its monthly asset purchases to $25 billion from $35 billion.

Among the biggest positives were financial shares, with the S&P financial index .SPSY up 0.4 percent, helping to support the S&P 500. Shares of Wells Fargo (WFC.N) gained 1.1 percent to $52.09.

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