The Federal Reserve today kept its federal funds target rate at 1?% but expressed uncertainty about the future. "The Fed is doing its best in being proactive not pre-emptive, given whats looming in the Middle East, said Thomas J. Marthaler, vice president and fixed-income portfolio manager at Chicago Capital Management. "The Fed chose to wait to see what happens.
Mr. Marthaler said the Fed could decide to act on interest rates before its next scheduled meeting on May 6, after it sees the how the U.S. military is faring and the wars effect on the economy. "Investors ought to take a longer vision, he added.