By Martin Baccardax The Fed said it will “take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments” when assessing future rate hikes. The Federal Reserve delivered its fourth major rate hike in succession Wednesday, amid one of the most aggressive tightening cycles since the Paul Volcker era of the early 1980s, but noted that future decisions will take into account their ‘cumulative’ impact on the broader domestic economy. The Fed lifted its Fed Funds rate by 75 basis poi…