'The markets are reacting negatively to the likelihood that the Fed is on hold for the time being,' says one strategist. Investors weren't pleased with Federal Reserve Chair Jerome Powell on Wednesday.U.S. stocks slumped on Wednesday, with the S&P 500 wiping out its gains from earlier in the week, as investors reacted to the Federal Reserve's latest outlook on interest rates and the economy.Wednesday's Fed press briefing didn't open up investors to what some felt was the worst-case scenario: That the U.S. and Israel's attacks on Iran, and the subsequent spike in global energy prices, were pushing the central bank toward another interest-rate hike."The markets are reacting negatively to the likelihood that the Fed is on hold for the time being," said Eric Wallerstein, chief macro strategist at Clocktower Group, during an interview with MarketWatch.According to Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics, the main takeaway from the Fed's policy statement and latest batc

Fed officials debate impact of US-Iran conflict on economy.