The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Morning Bid with David Gaffen:
The Fed has a lot of supporters among those who believe it wasn’t time to raise rates. Most primary dealers moved their expectations on a rate increase prior to the Fed meeting, the fed funds market was clearly signaling a very low chance of a rate increase, and plenty of commentators, domestic and international, expressed concern about the Fed moving rates at a time when it just wasn’t prudent to do so.