Fed, set to impose smaller hike, may hint of fewer increases

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — The Federal Reserve is poised this week to raise its benchmark interest rate for an eighth time since March. But the Fed will likely announce a smaller hike for a second straight time, and it could change some key wording in its post-meeting statement about future rate increases. A change in its statement, if there is one, could be seen as signaling an eventual pause in the Fed’s aggressive drive to raise borrowing costs. Chair Jerome Powell is still likely to stress, though, that the Fed’s campaign to conquer high inflation is far from over.