The Federal Reserve announced a rate hike of 25 basis points, and the latest statement removed language that had suggested further rate increases

ChainCatcher news, the Federal Reserve raised the federal funds target range rate by 25 basis points to 5-5.25%. Additionally, the Fed's statement removed language suggesting further rate hikes.

The Fed's statement indicated: When determining whether additional policy tightening may be appropriate to bring inflation back to 2% over time, the Committee will consider the cumulative tightening of monetary policy, the lagged effects of monetary policy on economic activity and inflation, and economic and financial developments.

Compared to the statement in March, this statement's wording has softened. At that time, the Fed stated: The Committee expects that further tightening of policy may be necessary to achieve a sufficiently restrictive monetary policy stance to bring inflation back to 2% by 2018. (The Block)