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STORY: In a move that was widely expected by economists and investors, the Fed held interest rates steady on Wednesday.

The new projections include a substantial markup of projections for economic growth. After expecting growth as weak as 0.4% for this year in earlier projections, the Fed now sees the economy growing 2.1% in 2023.

Speaking with Reuters' Lisa Bernhard, Miller said, "the Fed statement caught up a little bit with reality as investment strategists like ourselves and economists have been saying all summer - there's more strength out there than the Fed has acknowledged."

Miller also discussed the recent IPOs of Instacart parent Maplebear and chip designer Arm Holdings, as well as how the United Auto Workers strike may affect markets.