Fed Chair Jerome Powell answers reporters’ questions at the FOMC press conference Wednesday. (Source: Federal Reserve) Fed Chair Jerome Powell answers reporters’ questions at the FOMC press conference Wednesday. (Source: Federal Reserve)

The Fed said Wednesday it will raise rates by 25 basis points, but might hold off on further cuts if the economy worsens.

The Fed’s Open Market Committee raised the target range for the federal funds rate to 4.75% to 5%, following a 25 bps hike after its Feb. 1 meeting that raised the range to 4.5% to 4.75%.

Jim DuPlessis

A journalist for decades.

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