After raising interest rates by three-quarters of a percentage point at four consecutive meetings, the Federal Reserve on Wednesday slowed the pace of rate increases but still signaled further rate hikes.
In a widely expected move, the Fed announced its decision to raise interest rates by 50 basis points, or half a percentage point, to a target range of 4.25 to 4.50 percent.
The text of the Fed's accompanying statement was largely unchanged from last month, however, with the central bank reiterating that it anticipates ongoing increases in rates will be appropriate.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.