Fed Decision Day Brings Wall Street to a Standstill

The Federal Reserve's decision day has Wall Street scrambling as markets try to decipher whether interest rates will be raised. The Fed under Chairman Kevin Warsh has adopted a more tight-lipped approach, refusing to signal decisions in advance. This uncertainty has led to record demand for hedging against a hike.

Treasury yields have been rising lately, with two-year notes ticking up 2 basis points to about 4.31% on Wednesday morning after falling the past three days. Despite this, markets remain uncertain about what the Fed will do.

The lack of clear signals from the Fed has left investors guessing. As one might expect, Wall Street is divided in its thinking on how things will play out.