At its September meeting, the Federal Reserve delivered a 0.75 percentage point increase to its benchmark overnight lending rate, the federal funds rate, in a move that most investors had expected. The hike is the third consecutive such move since June as the Fed desperately tries to put a lid on soaring inflation. Following another jumbo rate hike, how will the hawkish Fed move next?

At the conclusion of each Fed meeting, the Fed doesn't only announce whether or not it's going to raise rates, but Fed Chairman Jerome Powell also speaks about the Fed's outlook on the economy.

After its September meeting, Powell's tone and comments seemed to get darker than they have in the past, as he acknowledged that the intense rate hikes from the Fed are likely to have consequences.

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Source Fool.com