<br><div><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - Why are groceries so expensive? Here's what we know about food prices in 2023."/><p class="gnt_ar_b_p">WASHINGTON--<a target="_blank" href="/story/money/personalfinance/2023/02/01/smaller-fed-rate-hike-decision-expected/11151322002/" rel="noopener" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a">The Federal Reserve</a> is easing its foot a bit further off the brake.</p><p class="gnt_ar_b_p">But it appears far from ready to step on the economy’s accelerator.</p><p class="gnt_ar_b_p"><a target="_blank" href="/story/graphics/2023/02/01/interest-rates-mortgage-rates-auto-loans-increased/11153068002/" rel="noopener" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a">The Fed</a>, as expected, <a target="_blank" href="/story/money/2022/12/13/next-federal-reserve-meeting-december-fed-rate-hike/10883764002/" rel="noopener" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a">raised its key short-term interest rate by a quarter percentage point Wednesday</a>, throttling back from a half-point hike in December and acknowledging that a historic inflation spike is slowing.</p><p class="gnt_ar_b_p">“Inflation has eased somewhat but remains elevated,” the Fed said in a statement after a two-day meeting.</p><p class="gnt_ar_b_p">But the central bank appears reluctant to signal that its aggressive campaign to beat back price increases is nearing an end even as it begins to<a target="_blank" href="/in-depth/graphics/2023/01/31/fed-rate-hikes-jobs-housing-stock-market/11105988002/" rel="noopener" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a"> balance the benefits of the initiative with growing recession risks</a>.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p"><strong class="gnt_ar_b_al">Many may still struggle:</strong><a target="_blank" href="/story/money/personalfinance/2023/02/01/smaller-fed-rate-hike-decision-expected/11151322002/" rel="noopener" data-t-l=":b|e|spike click:7|${u}" class="gnt_ar_b_a">A smaller rate hike is expected at the Fed meeting</a></p><p class="gnt_ar_b_p"><strong class="gnt_ar_b_al">Credit cards, mortgage rates and auto:</strong><a target="_blank" href="/story/graphics/2023/02/01/interest-rates-mortgage-rates-auto-loans-increased/11153068002/" rel="noopener" data-t-l=":b|e|spike click:8|${u}" class="gnt_ar_b_a">See how much fed interest rates have affected how much you pay</a></p><p class="gnt_ar_b_p">In a statement after a two-day meeting, <a target="_blank" href="/story/money/2022/12/13/federal-reserve-2023-meeting-schedule/10887436002/" rel="noopener" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a">the Fed repeated that “ongoing (rate) increases…will be appropriate</a>” to bring down yearly inflation to the Fed’s 2% goal. Some economists expected the Fed instead to say “additional increases” would be needed, hinting the Fed is close to winding down the hiking cycle.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">Fed Chair Jerome Powell is set to provide more clues about the central bank’s plans at a 2:30 p.m. news conference.</p><h2 class="gnt_ar_b_h2"><a target="_blank" id="gpd-1675278097158" class="gnt_ar_b_ba" rel="noopener"> What is the Fed interest rate now?</h2><p class="gnt_ar_b_p">The Fed’s latest move brings the federal funds rate to a range of 4.5% to 4.75%, up from near zero in March, in its boldest flurry of rate increases since the...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://news.google.com/__i/rss/rd/articles/CBMigAFodHRwczovL3d3dy51c2F0b2RheS5jb20vc3RvcnkvbW9uZXkvZWNvbm9teS8yMDIzLzAyLzAxL2ZlZGVyYWwtcmVzZXJ2ZS1pbnRlcmVzdC1yYXRlLWRlY2lzaW9uLW1lZXRpbmctbGl2ZS11cGRhdGVzLzExMTM1NjgwMDAyL9IBAA?oc=5">Read more <span>➤</span></a> </div>