"Even without providing explicit forward guidance, central bankers still have an obligation to explain the economic framework behind their decisions. On that score, this press conference fell well short," chimed Professor Jeremy Siegel.

"The bottom line is that an important part of the Fed’s credibility is not just to say that it has certain goals but also to explain how it will achieve those goals."

"Even without providing explicit forward guidance, central bankers still have an obligation to explain the economic framework behind their decisions. On that score, this press…