Key Takeaways From the Fed’s Rate Decision and Updated Projections

Here are key takeaways from the Federal Reserve’s interest-rate decision on Wednesday and updated forecasts for borrowing costs and economic indicators:The Fed downshifted to a 50 basis-point hike, as telegraphed, following four straight 75 basis- point increases. The unanimous decision brought the target rate to a 4.25%-4.5% range, the highest level since 2007Everything else released at 2 p.m. skewed hawkish: The median forecast fo…