As widely expected, the U.S. Federal Reserve decided today to raise its target for the federal funds rate by 25 basis points to 2%.

That’s the fourth such incease by the Fed this year. In its statement, the Fed indicated it’s leaning toward raising the rate again in December.

“Output appears to be growing at a moderate pace despite the rise in energy prices, and labor market conditions have improved. Inflation and longer-term inflation expectations remain well contained,” the Fed said.

The committee added that it “perceives the upside and downside risks to the attainment of both sustainable growth and price stability for the next few quarters to be roughly equal. With underlying inflation expected to be relatively low, the Committee believes that policy accommodation can be removed at a pace that is likely to be measured.”

The next Fed meeting is scheduled for December 14.