The Federal Reserve left rates unchanged on Tuesday, giving little relief for Wall Street one day after the Dow's 500 drop. What follows are video highlights of the experts' reactions.
Gross on Fed Governors
"I'd suggest that the statement as it pertains to inflation is other-worldly. Meaning, some Fed governors are on another planet. Clearly we're in a deflationary environment and all asset classes, exemplified by oil in recent weeks, and that has the potential to feed into the real economy with significantly negative effects."
- William Gross, Pimco founder & CIO
Doll on Inflation
"Rates, yes they're important ... And if they're going to go with a lower rate, it has to go with a globally coordinated basis. I need to see some recognition that inflation's falling."
- Robert Doll, vice chairman and global chief investment officer, BlackRock
Broaddus on Fed's Inflation Concerns
"The thing that surprised me a little bit was that there was a somewhat easing of concern on inflation ... They still see it as a significant risk. That may have been the way that the chairman was able to encourage a unanimous vote."
- Al Broaddus, former Richmond Federal Reserve president
Evans on Rate Cuts
“When we look at the rate-cut … actually it’s a double-edged sword for a lot of us bankers. When the Fed reduced the Fed Fund Rates by 75 points last month, we couldn’t match that so our spreads are being narrowed right now every time the Fed decreases.”
- Jon Evans, Atlantic Central Bankers Bank CEO