"The markets are the greatest chess match ever played."
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Fed holds steady; no clues about future rate hike
The Federal Reserve on Wednesday again passed on enacting its first interest hike in more than nine years and left few clues as to when a move would come. As expected, the Federal Open Market Committee voted to maintain its zero interest rate policy, citing weakness in exports and soft inflation as reasons to continue its historically easy monetary policy. The FOMC vote had just one dissent, from Jeffrey Lacker, who wanted to see the Fed enact a quarter-point hike. Markets had been looking for the Fed to stay accommodative, particularly in light of recent dovish comments from multiple governors, Daniel Tarullo and ... (full story)
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