The Fed may have passed over a September and October rate hike, but signs point towards one in December, assuming job gains permit.
"Everybody is going in the right direction," says PIMCO Portfolio Management German Head Andrew Bosomworth. "Those FOMC members who expressed concern previously, they were obviously on board for yesterday's decision."
Rates have been held in a 0 to .25% range since September 2008, with the most recent hold due to low wage growth and job gains.
The prolonged rate hike has left others skeptical. Former Fed Reserve Bank of Philadelphia president Charles Plosser called the hesitancy "troubling from a communication standpoint."
And Hermes Investment Management Portfolio co-manager Tim Crockford thinks a December rate hike is just to "hang on to their last shred of credibility." Ouch.
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