Fund manager reaction: Where now for rates after Fed hold?

The Federal Open Market Committee (FOMC) decided not to raise interest rates this month, as global headwinds overshadow a stronger domestic picture. Following its two-day September meeting, the FOMC voted by 9 to 1 to keep rates on hold, in a move anticipated by markets. The Federal Funds Rate has been kept on hold at 0-0.25% since the darkest days of the financial crisis in December 2008. However, the FOMC decided now was not the right time to raise rates as concerns over the impact of a global economic slowdown outweighed a healthier picture for the US domestic market. In a st...