Fed May Have to Hike Rates Sooner Than Expected: Rupkey

The transcript discusses a press conference where the Fed's future rate hike plans were addressed. The Fed's statement was initially unclear, but it was clarified that no immediate rate hikes are expected. The market's perception of the Fed's actions is mixed, with some disbelief about the pace of tightening. Global economic factors, such as Russia's currency issues and oil prices, are considered but not seen as major concerns for the Fed at this time.

In what way did the speaker reference the 1998 Russia default?

What was the speaker's view on the impact of lower oil prices on the economy?