The flurry of opinions following the Federal Reserve’s decision to hold interest rates near zero at its September meeting has done little to provide clarity on future interest rate policy, market watchers told CNBC on Monday.
In fact, the pronouncements are simply confusing the market, they said.
“I think they’re trying to be transparent — which you can’t argue against transparency — but there is such a thing as an overload of information, and I think that’s what a lot of investors are getting right now,” Robert Luna, Surevest Capital Management CEO, told CNBC’s “Power Lunch” on Monday.
Market watchers got another opinion to mull over on Monday after Chicago Federal Reserve President Charles Evans said in a speech the United States faces inflation and dollar headwinds that may not subside until the middle of next year. He said the Fed could help the country navigate those headwinds by delaying a long-anticipated hike to the benchmark fed funds rate until 2016.
Read More Fed’s Evans: Later rate hike better for economy
Earlier in the day, New York Fed President William Dudley said the central bank’s policymaking committee would likely raise interest rates this year, perhaps as soon as its next meeting in October. That comment echoed a speech by Fed Chair Janet Yellen last week, during which she said it would likely be appropriate to raise rates sometime this year.
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