What the Fed's game of chicken means for your money

Thursday's announcement that the Fed is neither a cause for panic nor celebration - but it does mean investors must cope with uncertainty

Can a meeting of Federal Reserve policymakers at which nothing much happens - at which interest rates remain unchanged - still be significant for investors? You betcha, and here's why.

This wasn't an ordinary Fed meeting, something to which Leo Grohowski, chief investment officer at BNY Wealth Management, can testify. "We did a call for our clients and had 300 people on the line, and I can't remember even doing a call of this kind for a regularly scheduled Fed meeting before. This time, we felt compelled to do so," because the meeting was seen as such a turning point in the Fed's policymaking.