Wall Street closes at 2016 high as Fed signals fewer rate hikes

By Laila Kearney NEW YORK (Reuters) - The S&P 500 closed at its highest level of the year on Wednesday after the U.S. Federal Reserve left interest rates untouched and signalled fewer rate hikes in coming months. The Fed indicated moderate U.S. economic growth and "strong job gains" would allow it to tighten policy this year with fresh projections showing policymakers expected two quarter-point hikes by the year's end, half the number seen in December. The decision to keep rates steady was i