Fed hikes again by 75 basis points, hints at slowing rate increases

The fresh language comes amid still-strong readings on inflation and jobs, even as sectors like housing and manufacturing have slowed substantially.Article contenttap here to see other videos from our teamThe unanimous decision lifts the target for the benchmark federal funds rate to a range of 3.75 per cent to four per cent, its highest level since 2008.

The statement firmly committed policymakers to their campaign to curb inflation, but acknowledged that interest-rate increases act with a lag. Investors are looking to him to discuss whether the Fed will slow the pace of rate increases at its next meeting in December.Officials, fighting to curb inflation running near a 40-year high, gathered days before midterm U.S. congressional elections in which anger over price pressures has been a dominant theme.Article content

Officials, as expected, said they will continue to reduce their holdings of Treasuries and mortgage-backed securities as planned — a pace amounting to about US$1.1 trillion a year.

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