The Fed Decides to Wait
The Fed Decides to Wait In a tough time for equities, it elects not to roil the markets. On Thursday, the Federal Reserve postponed raising short-term interest rates. Citing “global economic and financial developments” that could “somewhat” impair economic progress and lessen inflation pressure, the Federal Open Market Committee voted 9-1 against a rate hike, with Richmond Fed President Jeffrey Lacker being the lone dissenter.1 This spring, a September rate hike seemed probable – but during this past week, assumptions [...]