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FOMC Meeting Minutes Show the Fed Is "Making Things Up as They Go Along"

In July's FOMC meeting minutes released yesterday (Wednesday), Fed members announced they may raise the near-zero interest rates sooner than expected, citing improvements in the labor market.

Money Morning's Chief Investment Strategist Keith Fitz-Gerald joined CNBC's"Closing Bell" program yesterday and said these minutes show that one thing is clear: The Federal Reserve is just "making things up as they go along."

Even more unnerving – the Fed's ridiculous conclusions have triggered some concerning moves in the markets. Take a look:

The FOMC meeting minutes were release yesterday, but Money Morning's Keith Fitz-Gerald thinks the Fed is "making things up as they go along."

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