Fed hikes rates as Greenspan leaves stage

The committee signaled further rate hikes could come to keep inflation at bay.
The FOMC said inflation was low and inflation expectations remained contained. However, slack in the economy was disappearing, and could add to inflationary pressures, the committee said.
In its statement, the committee removed language that suggested further rate hikes would be measured. The committee also said further increases "may be needed," a change from wording in December that said further increases would "likely" be needed.