Central Banks
Fed Hikes Rates by Quarter Point, Powell Hints at Possible Pause
- FOMC omits line anticipating more hikes may be appropriate
- Tighter credit likely to weigh on economy, FOMC says
The Federal Reserve raised interest rates by a quarter percentage point and hinted it may be the final move in the most aggressive tightening campaign since the 1980s as economic risks mount.
“The committee will closely monitor incoming information and assess the implications for monetary policy,” the Federal Open Market Committee said in a statement Wednesday. It omitted a line from its previous statement in March that said the committee “anticipates that some additional policy firming may be appropriate.”