The Federal Reserve left its benchmark interest rate unchanged after the Federal Open Market Committee's meeting Tuesday and Wednesday, and one observer said the Fed is being bullied into keeping rates low.
"The mere mention of a rate hike sends the market into convulsions. That's the big reason why the Fed has been gun shy on raising rates," Greg McBride, chief financial analyst at Bankrate.com, said in an interview with CU Times.
He argued the Fed needs to raise rates now, before another economic downturn.
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