No Relief After Hours

A weary market couldn't seem to find relief Tuesday, even after a positive first batch of earnings and indications that the Federal Reserve was not as hawkish as feared, at least not when it delivered its most recent rate hike.

According to the minutes of the Sept. 20 Fed meeting, Fed officials even considered pausing rate hikes after the economic disruptions caused by Hurricane Katrina.

But "a pause in policy tightening at this meeting had the potential to mislead the public both about the committee's perceptions of the fundamental strength and resilience of the economy and about its commitment to fostering price stability," Fed members thought. ...