The Fed's decision to continue its $85 billion-per-year asset-purchase program unabated caught much of Wall Street by off-guard, but there was another unexpected element in its announcement, Brian Kelly of Brian Kelly Capital said Wednesday.
"The other thing that was surprising to me today is how much (Fed Chairman Ben) Bernanke focused on the fiscal drag, from the sequestration, from the debt-ceiling debate," he said. "I think that was a bigger factor in today's decision than the markets making out, and that then that goes to if you have some kind of a grand bargain, that would actually be bad for the market.
(Read more: Next up for the market? Government shutdown!)
"And he mentioned the drag that we had. It's about 1 percent of GDP. So, I think what he's saying is, 'Keep my foot on the accelerator.'"
On CNBC's "Fast Money," Kelly said that he had expected "at least $10 billion" fewer purchases of U.S. Treasury bonds and mortgage-backed securities.
Tim Seymour of EmergingMoney.com cited less uncertainty from Syria and the candidacy of Larry Summers to succeed Bernanke as Fed chairman as a significant factor.
"No war. No Summers. No taper. No fear," he said. "So, people going into still a lot of significant events are short volatility here and got even shorter."
Seymour said he "would be getting long vol."
StockMonster's Guy Adami added another "no."
"No earnings growth," he said.