“The situation Wednesday was slightly different, in that the Fed didn’t cut interest rates but held them steady. Warsh also suggested Wednesday recent rises in long-term interest rates may have reflected positive economic news, such as strong business investment… few in the markets saw it that way.”
Analysis: Fed Chairman Warsh's credibility in question after leaving interest rates unchangedThe Fed held interest rates steady, but long-term Treasury yields jumped. Investors are questioning whether he will act forcefully enough on inflation.www.cnbc.com