The US Federal Reserve has increased rates for the fourth time this year but sees fewer hikes in 2019. The Fed's decision comes after President Trump urged the central bank to refrain from further hiking interest rates. CGTN's Daniel Ryntjes has this report.  

After increasing the Federal Funds Rate by a quarter of a percentage point to a range of between two and a quarter and two and a half percent, the Federal Reserve forecasts continued strong U.S. growth and a healthy jobs market in 2019.

But Chairman Jerome Powell also notes a change in the national mood.

JEROME POWELL CHAIRMAN, US FEDERAL RESERVE "Despite this robust economic backdrop and our expectations for healthy growth, we have seen developments that may signal some softening relative to what we were expecting a few months ago. Growth in other economies around the world has moderated somewhat over the course of 2018, albeit to still solid levels."

US financial market fell sharply after the rate announcement which included a projection from members of the Federal Open Market Committee of two more quarter-point rises next year.

President Trump had urged the Fed to IGNORE financial data and NOT to raise rates any further based on a "feeling" about the economy.

JEROME POWELL CHAIRMAN, US FEDERAL RESERVE "Political considerations play no role whatsoever in our discussions or our decisions about monetary policy. We have the tools to carry it about, we have the independence which we think is essential to be able to do our jobs in a non-political way, and we at the Fed are absolutely committed to that mission and nothing will deter us from doing what we think is the right thing to do."

So Jerome Powell acknowledges the mood of uncertainty, but he says any decisions will still be made on the basis of economic DATA.

DANIEL RYNTJES WASHINGTON "Inflation has remained below the 2% target range for the Fed which DOES provide an opportunity to maintain relatively low-interest rates moving forward. Daniel Ryntjes, CGTN, Washington."