Stevenson Says Fed Is Waiting to See Economy Slow

Betsey Stevenson, Professor of Public Policy and Economics at the University of Michigan's Ford School and former Chief Economist of the Department of Labor, says the Fed's decision to leave rates unchanged is puzzling because another increase is still likely. Stevenson says policymakers may be waiting to see whether the economy slows further before raising rates again. Stevenson says uncertainty around the midterm elections and potential changes in fiscal policy could also affect how high rates ultimately need to go. She speaks with Kailey Leinz on Bloomberg’s "Balance of Power." (Source: Bloomberg)