Interest rate chatter again dominated the market dialogue this week, as the Fed Open Market Committee again declined to tighten monetary policy during their two-day meeting.
The window is open for a rate hike at the Fed's meeting in September, but, as we noted during our conversation on Wednesday before the central bank's announcement, outside circumstances could affect Yellen and Company's decision.
As we said during our last conversation, the global economy isn't in the best position right now. Oil prices are cratering, impacting the budgets of producer nations. China's stock market is tumbling. Canada is in a recession. Australia's dollar is cratering. And that's just a small sample that doesn't include much needed conversation about Russia, Iran, Brazil, and most of Europe.