Federal Reserve admits to looming economic slowdown ALBAWABA – The U.S. Federal Reserve Board (Fed) raised interest rates by 0.25 percentile points late on Wednesday to the 5 to 5.25% range, according to Reuters, whereas next steps in terms of further interest hikes remain unclear. Fed Chair Jerome Powell said that further increases may be warranted in the face of rising inflation, but the economy "is also showing signs of ...