Fed warns of yet more rate rises

US interest rates look set to keep rising after the Federal Reserve said the current 2.5% level may be too low to keep inflation in check.
The comments came in Wednesday’s release of the minutes from the last Fed rates meeting on 1 and 2 February.

Although at that meeting the Fed voted to raise rates by 0.25% to 2.5%, it said they may have to continue to rise, at least over the medium term.