It had been just six weeks since Federal Reserve Chairman Kevin Warsh vowed to reestablish the central bank’s reputation as an inflation fighter. But as he took to the podium to explain why the Fed again sat on the fence Wednesday — and held interest rates steady even as consumer prices keep rising far faster than its target, month after month — Wall Street analysts found the message far from reassuring.
Bank of America Corp.’s economists said markets were “doved and confused.” The headline on the note from those at JPMorgan Chase & Co. was “Talk is Cheap.” Morgan Stanley said it boiled down to “a question of credibility.”
Carter Johnson | Yahoo Finance