Wednesday's Fed decision this week to keep interest rates unchanged despite sticky inflation fueled by oil prices above $100 per barrel was a head-scratcher for more than one Wall Street strategist. "In our view, the decision was puzzling," Ed Yardeni of Yardeni Research wrote last week. "It reminds us of someone standing in a room with a fire alarm blaring and smoke pouring under the door, yet insisting on more evidence before calling the fire department," he noted, highlighting that the US economy increased at a 3.4% annualized rate in the third quarter.
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