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Mohamed A. El-Erian

4 Takeaways From the Fed's Announcement

Leaving open the possibility of a rate hike in December could increase market volatility.
Forward guide.

Forward guide.

Photographer: Andrew Harrer/Bloomberg

Federal Reserve policy makers left interest rates unchanged on Wednesday, even as they refined and tweaked their domestic economic assessment, and visibly eased concerns about the external economic and financial environment.

QuickTake Forward Guidance