Federal Reserve Interest-Rate Decision: Live Updates – Wall Street Journal
Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, said the Fed’s decision to hold off on raising rates did not come as a surprise to him.
He’s skeptical about any rate raise later this year, even as the Fed seems to be pointing to a change in December. “There’s always an excuse. You can always find weak data, you can always find some turmoil globally to point to,” he said.
Even when the Fed next raises rates, so long as it’s a slow raise it’s important that investors don’t overreact, he added.
As the Bank of Japan’s action earlier Wednesday illustrated, easy money policies aren’t going anywhere. “I just don’t see these global central banks backing away from easy money policies for a long time,” Mr. Wren said.