Fed disappoints asset managers

Money managers were disappointed after the U.S. Federal Reserve decided not to raise interest rates, reports Advisor.ca.

“It’s surprised people how dovish the Fed is,” says Tom O’Gorman, director of fixed income at Franklin Bissett Investment Management.

An especially “dovish wrinkle” in the announcement came in the Federal Open Market Committee’s projections, notes Robert Spector, institutional portfolio manager, MFS Investment Management.

For the whole story, visit Advisor.ca.

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