The Federal Reserve on Wednesday opted not to raise interest rates, and according to several experts, the central bank missed its moment to do so long ago.
Danielle DiMartino Booth, a former advisor to the Dallas Fed, told CNBC's "Power Lunch" there have been many, many opportunities to hike rates. Now its labor markets conditions index, which gauges the health of the job market, has been negative six months running, she said.
"[Chair Janet Yellen] doesn't know what to do. They don't know what to do," Booth said.
"They're scared stiff right now," she added, noting oil prices and the possibility of inverting the yield curve are probably concerns.
David Kelly, chief global strategist for JPMorgan Funds, agrees the Fed should have hiked rates a long time ago.
"They've never found the perfect moment, but you never get perfection in life. I think they've made a big mistake by not moving sooner," he told "Power Lunch."