The Federal Reserve's Latest Interest Rate Decision Featured Something We Haven't Seen in 10 Years, and It Should Rightly Worry Wall Street
Federal Open Market Committee (FOMC) dissension just reached a new (and dubious) milestone.
Overview
Amid the heart of earnings season, the Federal Reserve just delivered one of the most anticipated interest rate decisions in years. With Fed Chair Kevin Warsh shelving forward-looking guidance from Federal Open Market Committee (FOMC) meeting statements, determining what policymakers will do next has become far more challenging.
While a handful of prominent names and financial institutions had postulated that the Fed would raise interest rates, the FOMC ultimately left its federal funds target rate unchanged at 3.5% to 3.75% -- and the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) tumbled.
Fed Chair Kevin Warsh has inherited a historically fractured central bank. Image source: Official White House Photo by Daniel Torok.
Details
Source
Originally published at www.fool.com.