The Federal Reserve announced Wednesday it was not raising interest rates, but it was what the central bank didn't say that disappointed investment expert Scott Minerd.
"What I was expecting them to do was to tee up the idea and get it more firm in people's mind that there is an announcement coming and it's going to come this year," the global chief investment officer at Guggenheim Partners said in an interview with CNBC's "Power Lunch."
On Wednesday, the Federal Open Market Committee unanimously agreed to keep its benchmark rate target at 0.75 percent to 1 percent. While it noted that economic activity has slowed, it believes the weakness won't last.
Fed officials also gave no indication on Wednesday if they would alter their intention to raise rates in the future. In March, they indicated two more hikes were on the way this year.