Fed hikes interest rates again

The Federal Reserve raised interest rates by three-quarters of a percentage point again on Wednesday and said its battle against inflation will require borrowing costs to rise further yet signaled it may be nearing an inflection point in what has become the swiftest tightening of US monetary policy in 40 years.

The double-sided message left open the possibility the US central bank may raise rates in smaller increments in the future, ending its sequence of three-quarters-of-a-percentage-point hikes as soon as December in favor of more tempered increases of perhaps half a percentage point, while also leaving policymakers room to continue pushing rates higher if inflation doesn't start to slow.