The Dog That Didn't Bark: Fed Decides Not To Hike Rates

The most significant event of the month was actually a nonevent: the Fed’s decision not to hike rates. Despite being the hot topic of debate among market pundits on a near-daily basis, the September FOMC meeting still managed to catch markets off guard. By not raising rates and citing global developments, the Fed heightened the markets’ fears that China’s slowdown, emerging market troubles and falling commodity prices would pull global growth and inflation lower.

Read More from Pimco here.