5 key takeaways from the Federal Reserve’s rate hikes

The Federal Reserve ramped up its battle against inflation Wednesday with another large interest rate hike amid griping that the central bank’s efforts will plunge the U.S. into a recession.


The Fed boosted its baseline interest rate range by 0.75 percentage points for the fourth time in four consecutive meetings. The rate increase was the sixth of the year and brought the Fed’s baseline interest rate range to a span of 3.75 to 4 percent


And while the rate hikes marked yet another aggressive move to lower inflation — which has stayed stubbornly high for months — the Federal Reserve sounded a slightly softer tone in its messaging about its future actions.


The bank’s approach to stanch demand, however, will still be determined in large part by upcoming reports on consumer prices and the resiliency of the U.S. labor market.