EFEWashington

The Federal Reserve said Wednesday that the benchmark interest rate in the United States will remain in the range of 0-0.25 percent for the moment, but signaled that it will likely increase the rate in March to tamp down inflation.

Though the official statement following the meeting of the Federal Open Market Committee - the central bank's policymaking body - said that a rate hike could come "soon," Fed Chair Jerome "Jay" Powell was more specific.