Fed Holds Rates Steady But That Doesn't Make it Easier for Investors

The Fed's decision to hold interest rates steady didn't come as a surprise, but it does mean fixed income investors will continue to face a challenging environment.
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The Federal Reserve's decision to hold interest rates steady didn't come as a surprise, but it means fixed income investors will continue to face a challenging environment. Kathleen Gaffney, portfolio manager of Eaton Vance's Multisector Income Fund, believes diversity is key in this environment. Gaffney's current holdings include high yield and investment grade corporate debt, along with equities. Her fund is broadly outperforming its benchmark. Gaffney believes the Fed is on hold through at least November. TheStreet's Rhonda Schaffler reports from Wall Street.