The central bank's policy-setting Federal Open Market Committee said it "does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%," the Fed's inflation target.

Speaking with Reuters' Lisa Bernhard, Rathbun said, "The last thing [the Fed] wants is to see 2% inflation... and then they lower rates... and then for [inflation] to head back up. If there's any upward risk of inflation going up, they don't want a policy that's bouncing up and down."

Rathbun also spoke about why shares of tech giants such as Google parent Alphabet and chipmaker AMD slid on Wednesday after their earnings reports.

"If you are a tech company that is disappointing market expectations when it comes to artificial intelligence," she explained, "the market, it looks like, is willing to punish you."

Finally, Rathbun opined on why retail behemoth Walmart announced it is opening 150 stores - a pivot from its prior online push to better compete with Amazon.

"Walmart wants to be the store of the future, the vanguard of modern shopping," said Rathbun of the more than 60-year-old retailer, adding that it wants to combine online with in-store shopping to "bring new meaning to what it means to be a super store."