The Federal Reserve is likely to keep interest rates unchanged at its meeting Wednesday – a decision that demonstrates the Fed has a credibility problem, according to Greg McBride, CFA, Bankrate.com's chief financial analyst.
"This is not 2008," McBride said. "Interest rates have no business being at the current level."
McBride said the Fed has used international economic weakness and soft economic data as excuses for not raising rates, even though the economy has reached all the markers the Fed has established.
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