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The Federal Reserve. /Xinhua
U.S. Federal Reserve announced on Wednesday a fourth consecutive, steep interest rate hike, and said while more increases will be needed to tame inflation, it opened the door to a slower pace of future moves.
The latest three-quarter percentage point increase takes the benchmark lending rate to 3.75-4.0 percent, the highest since January 2008.
In a statement at the conclusion of its two-day policy meeting, the U.S. central bank said more rate hikes "will be appropriate" to achieve a "sufficiently restrictive" level to tamp down inflation, but it will consider the impact on the economy when deciding.
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