The Federal Reserve nudged up short-term interest rates by a quarter-percentage point and signaled it was on track to do so again at its meeting next month while officials consider whether and when to pause increases late this spring. The decision Wednesday to raise the Fed’s benchmark federal-funds rate followed six larger, consecutive increases to combat inflation, which hit a 40-year high last year. Officials raised rates by a half point in December and by 0.75 point in November. Officials agreed to slow rate rises to gain more time to study the effects of their moves. “We’re talking about a couple of more rate hikes to get to that level we think is appropriately restrictive,” Fed Chair Jerome Powell said at a news conference after the central bank’s policy meeting.
Source: Wall Street Journal
