Chat GPT concise summary of interest rate decision

The Federal Reserve has raised its benchmark interest rate for the tenth time in over a year and suggested that the tightening cycle is at an end. The rate was lifted by 0.25 percentage points to a target range of 5%-5.25%, the highest level since August 2007. While the decision was widely expected by markets, some are questioning whether the central bank will pause. During the news conference, Chairman Jerome Powell said “a decision on a pause was not made today” but noted the change in the statement language around future policy firming was “meaningful”.