Fed Raises Interest Rates by 75 Points, Says There's Still Work to Do, and Expresses Hope for a Slowdown

Wednesday, as expected, the Federal Reserve raised interest rates by 75 basis points, its fourth consecutive increase, but avoiding any express indication that it will cease its relentless tightening.

The central bank modified its language to offer Wall Street and economists who had anticipated a reference to a future stop in its interest rate increases a glimmer of hope, despite the absence of an explicit declaration to that effect.....