The US Federal Reserve hiked the intrest rates for the ninth time in a row on Wednesday.

Federal Reserve policymakers voted unanimously to raise their benchmark interest rate by a quarter percentage point to just under 5%

The Committee anticipates that some additional policy firming may be appropriate," the Fed said in a statement

The Federal Reserve's Monetary Policy Statement says, Consumer prices continue to rise rapidly. Annual inflation was 6% for him in February, up from 9.1% in June last year

Central bank is particularly concerned about rising costs for services such as airline tickets and streaming TV subscriptions.

The Fed is also under scrutiny for its surveillance of two failed banks.

People line up outside the offices of Silicon Valley Bank in Santa Clara on March 13, 2023  

Some observers had asked the central bank to suspend rate hikes at least temporarily