NEW YORK — The Fed confirmed what Wall Street already has concluded: The recession is starting to ease.

Federal Reserve policymakers said at the end of a two-day meeting Wednesday that while the economy still is receding, the pace of decline “appears to be somewhat slower” than the last time they met in mid-March.

That was confirmation enough for the stock market. Major indexes, which already had been up sharply ahead of the announcement on other signs the economy is stabilizing, posted gains of more than 2 percent.

“You had the Federal Reserve endorsing the basic stance that the economy is beginning to stabilize,” said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

Stocks began the day higher as investors responded to bright spots within a weaker-than-expected report on the nation’s economic output for the first three months of the year.

iInvestors were encouraged by a rebound in consumer spending and a decline in business inventories.

The Dow jumped 168.78, or 2.1 percent, to 8,185.73.

The Standard&Poor’s 500 index gained 18.48, or 2.2 percent, to 873.64.

The Nasdaq composite index advanced 38.13, or 2.3 percent, to 1,711.94.

About five stocks rose for every one that fell on the New York Stock Exchange.