Federal Reserve Chairman Jerome Powell said the Fed isn’t messing around with inflation.
The decision to raise rates by “just” 50 basis points was unanimous.
Investors were unsurprised by the Fed’s first half-point rate hike in 22 years.
As expected, the central bank raised rates by a half-point, its first hike of that magnitude since 2000.
The Fed also announced that it plans to begin unwinding other stimulus measures as well.