Fed Holds Interest Rates Steady Amid Calls for Hike

The Federal Reserve made its latest decision on interest rates, holding steady at 3.50-3.75% despite calls for a hike from three policymakers.

This move has sparked mixed reactions in the market, with some analysts arguing that it's a sign of caution and others seeing it as a relief rally.

Adam Sarhan, CEO of 50 Park Investments, said, 'The market's breathing a collective sigh of relief that the Fed did not raise rates. There was a fear built in that the Fed would raise rates and choke the economy.'

However, Tom Porcelli, Chief Economist at Wells Fargo, believes that holding interest rates steady is the right call, given the current inflation dynamic.

'I think patience in that regard is warranted,' he said. 'The Fed needs to have more patience as it relates to the inflation dynamic in the United States.'