GLOBAL MARKETS-Equities, dollar rise as Fed officials downplay inflation concerns

The Dow Jones Industrial Average rose 0.03%, to 34,323.05, the S&P 500 gained 0.19%, to 4,195.99 and the Nasdaq Composite added 0.59%, to 13,738.00.MSCI's broadest index of world stocks rose 0.18% to 708.52. European stocks were flat below a record peak set on Tuesday.

NEW YORK: Global equity markets gained and the U.S. dollar rallied against major currencies on Wednesday for the first time this week as Federal Reserve officials continued to downplay prospects of rising inflation.

Fed vice chair for supervision Randal Quarles signaled the U.S. central bank's plans to open talks on easing its bond buying program as the economy roars ahead and prices rise. On Tuesday, vice chair Richard Clarida said the Fed could curb inflation and engineer a "soft landing" without throwing the economic recovery off track.