U.S. Fed slows pace of rate hikes, but policy tightening to continue

The U.S. Federal Reserve on Wednesday decided to raise its benchmark interest rate by 0.5 percentage point, a smaller move than the previous four hikes, but signaled more increases are to come as it continues to battle high inflation.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 4.25 to 4.50 percent, as widely expected. Policymakers, meanwhile, raised their projection that the rate will be at around 5 percent by the end of next year."The committee anticipates that ongoi…READ FULL ARTICLE