Janet Yellen, chair of the U.S. Federal Reserve, speaks during her semiannual report on the economy to the Senate Banking Committee in Washington, D.C., U.S., on Thursday, July 16, 2015. Yellen said the Federal Reserve is “highly focused” on the risks of raising interest rates too early. Photographer: Drew Angerer/Bloomberg via Getty Images

The Fed decided yesterday to let the interest rate remain unchanged.

For now.  And the market today, Friday, is jittery as hell.

It was expected that the rate would likely rise come September, and here we are.  Yet there were those who said the rate wouldn’t rise this year because the Fed was out.  Empty.  Kaput.  Bereft.  Meaning: there really wasn’t anything else they could do to try to prop up the economy; they’d tried everything else.

Except perhaps QE 4.

Do I hear footsteps?

Do I hear the sound of another stock market crash?  Negative interest for your savings like Europe?

After all, Fed Chair Janet Yellen has said the rate must be raised.

BZ