Fed offers little guidance about future interest rate hikes

The Federal Reserve boosted interest rates this week, but it’s unclear if more hikes are in the future. On Wednesday, the Fed raised its key interest rate for the 11th time in 17 months as part of its ongoing drive to curb inflation. But chairman Jerome Powell provided little guidance about when — or whether — the central bank might hike rates again. Powell said the economy has proved surprisingly resilient despite the Fed’s rapid rate hikes.