The experts gave CNBC their thoughts on the Federal Reserve meeting, where members are expected to vote on holding rates at 2 percent.
Fed Set to Hold Rates Steady
"I'm not sure the Fed is really in as much of a box as people think. We don't believe inflation is as much of a problem as it appears."
— Bob Baur, Principal Global Investors
Fed Day Decision
"I think they're demonstrating their conviction, their determination really, to keep inflation contained, and it's important for them to send that message. But at the same time, they've got to face facts. Unemployment's going up, and it's going up pretty fast. The Fed doesn't tighten up when unemployment's rising — it's just that simple.
— Stuart Schweitzer, JPMorgan Private Bank
Wrong Move By the Fed?
"The situation right now is that they’re trapped a little bit. I think they cut too far because they thought they could deal with this crisis through liquidity when it was, and is, a solvency crisis that requires capitalization … This is not a pretty position to find yourself in when you’re a central bank."
— Uwe Parpart, Cantor Fitzgerald
Countdown to the Decision
"I think two parts of the story are going as the Fed predicted ... I think the thing they did not expect was this next leg down in the credit crisis, especially the problems that befell Fannie and Freddie last month. That's got to be a concern for them, because they had seen a lot of improvements in those markets."
— Greg Ip, The Economist
Navigating Treacherous Waters
"We never should have had people who never could’ve made their first payment on their mortgage getting a mortgage. I mean that’s just, those days are gone hopefully, thankfully forever. The problem is we’ll find a new way to screw it up down the road."
— Diane Swonk, Mesirow Financial