Fed Approves Quarter-Point Rate Hike, Signals More Increases Likely
The Federal Reserve approved a quarter-percentage-point interest-rate increase and signaled plans to raise rates again next month to continue lowering inflation.
The decision Wednesday followed six consecutive larger rate rises, including an increase of a half point in December and 0.75 point in November.
Officials nodded to recent improvement in inflation readings but didn’t significantly alter their guidance around coming rate moves in a policy statement released after the meeting.
“The committee anticipates that ongoing increases” in interest rates “will be appropriate in order to attain a stance of monetary...