Fed slows interest rate increases; more hikes expected

Fed slows interest rate increases; more hikes expected

As expected, and heavily telegraphed, the Federal Reserve Open Market Committee elected to raise interest rates a quarter point, the smallest tweak in nearly a year as it battles burgeoning inflation. But, despite encouraging economic indicators, Fed Chairman Jerome Powell made it clear we haven’t seen the end of rate hikes, though future once will be small, like February’s.