U.S. Fed makes another massive rate hike, hints at slowing pace

The U.S. Federal Reserve on Wednesday decided to raise its key interest rate by 0.75 percentage point for the fourth consecutive meeting amid high inflation, but hinted at smaller hikes ahead as it gauges the impact of its aggressive monetary tightening.Upon concluding a two-day meeting of the policy-setting Federal Open Market Committee, the central bank said it will lift its target range for the federal funds rate to 3.75 to 4.00 percent as widely expected, the highest level in about 15 years.While noting that ongoing rate increases will be "appropriate" to bring down inflation to its goa…READ FULL ARTICLE