The bank matched last month's half-point increase to bring its benchmark rate to 2.25%
New 3% to 3.25% range is highest since 2008
Stock prices tumbled and bond yields rose as many investors feared a more aggressive Federal Reserve
More declines from recent highs are likely, but prices should remain above pre-pandemic levels
Powell's message may disappoint investors who were hoping for a signal that the Fed might soon moderate its rate increases
Wednesday's report increased hope that the modest slowdown might enable the Fed to slow the pace of its rate increases
Opinion: Interest rate benchmark reform requires careful execution and strong collaboration
Loan books dominated by residential mortgages are vulnerable to a market downturn, DBRS says
The 75-basis-point increase brings the key rate to the highest level since 2018
The U.S. Federal Reserve's rate hikes aren't suited to address all the causes of high inflation, however