Interest Rate Bumped Another .75 Basis Points

As expected, the Federal Reserve Bank bumped interest rates by .75 basis points. Fed Chairman Jerome Powell offered comments after the central bank meeting. Powell said it will be appropriate to slow the pace of interest rate increases at some point. “Even so, we have some ways to go,” said Powell. “Incoming data since our last meeting suggest that the ultimate level of interest rates will be higher than previously expected.” Powell said he would rather increase interest rates too much, rather than not enough.