Money Fed slows pace of rate hikes, raises rates a quarter point. What that means for your finances. February 1, 2023February 1, 2023 Medora Lee, USA TODAY Comments Off on Fed slows pace of rate hikes, raises rates a quarter point. What that means for your finances. The Fed halved the size of its rate hike to 0.25 percentage point. For those already struggling under the weight of inflation, it may mean little.