What smart people are saying after the Fed held rates steady
Source: Business Insider ·
The Fed held rates steady as expected, buying time for more data. Yet, many still expect a rate hike in December.
From the source
Federal Reserve Chair Kevin Warsh speaks during the press conference following the Federal Open Market Committee's announcement that it was holding interest rates.SAUL LOEB / AFP via Getty ImagesAs expected, the Federal Reserve held rates steady on Wednesday.Fed Chair Kevin Warsh said the Fed is working toward price stability and lower inflation.Smart people in business and finance expected the hold, and estimate a hike in December.The Federal Reserve held interest rates steady as was widely expected. The rate remained unchanged after a 10-2 vote, where 2 officials voted to hike rates by 25 bps.Fed chair Kevin Warsh, who began his term leading the central bank in May, said the Fed is working to deliver future price stability and quash inflation during the Federal Open Market Committee press conference following the hold announcement."The period right in front of us is information rich," Warsh said.He added: "We're going to be able to figure out what's the appropriate protocol, as…
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