Money Fed interest rate decision today: Central bank hikes by 0.25 percentage point to tame inflation February 1, 2023February 1, 2023Elisabeth Buchwald, USA TODAYComments Off on Fed interest rate decision today: Central bank hikes by 0.25 percentage point to tame inflation The Fed raised its key interest rate but slowed the pace for a second straight meeting. Chair Jerome Powell said inflation remains too high.