Brexit isn't seen having fallout as severe as the 2008 financial crisis, but you wouldn't know it from the rush to safety in the global market for sovereign debt.

There are risks of contagion to other countries, but "it will take a significant amount of time to see how all that unfolds," says Federal Reserve Bank of Dallas President Robert Kaplan.

Even as markets regain footing after vote turmoil, there is still a “dark cloud” that advisers must be ready to discuss, says Greg Valliere, chief strategist for Horizon Investments.

Britain's vote to leave the European Union will almost certainly have repercussions for the Federal Reserve -- and those could play out over days or months.

Clients holding municipal bonds are in a good position to wait it out, after policy makers left the target interest rate unchanged and signaled increases will be gradual, strategists said.

Fewer Federal Reserve officials expect the central bank to raise interest rates more than once this year, as policy makers gave a mixed picture of a U.S. economy where growth is picking up and job gains are slowing.

Here’s what to listen for when Fed Chairwoman Janet Yellen speaks later on Wednesday.

The Federal Reserve chairwoman was mum about when there might be another hike, which for some suggests she's not in a hurry.

Rates have been on hold amid market volatility and a slowdown in U.S. growth.

Central bankers will shed more light this week on the risks of either raising interest rates amid global uncertainty or leaving them on hold again as the U.S. economic outlook improves.