Tim Duy says Fed to hold rates steady

"While the central bank was likely prepared to raise interest rates this month at the conclusion of the last FOMC meeting, deteriorating global economic conditions and market volatility will likely derail those plans. Nor is the inflation picture particularly supportive at this juncture. Consequently, I anticipate the FOMC will choose to hold rates steady. But expect the FOMC statement and subsequent press conference with Fed Chair Janet Yellen to strongly indicate that policymakers still intend to raise rates this year". To read more from Duy on the Fed click the (VIEW LINK). You can access a summary of multiple investment bank timing forecasts via Business Insider by clicking the (VIEW LINK)