FOMC hikes by 25bps to 4.50-4.75%, as expected; reiterates ongoing rate increases will be appropriate

Recent indicators point to modest growth in spending and production.
Job gains have been robust in recent months, and the unemployment rate has remained low.
Inflation has eased somewhat but remains elevated; this line was not in the prior FOMC statement.
Russia’s war against Ukraine is causing tremendous human and economic hardship and is contributing to elevated global uncertainty

STATEMENT COMPARISON: