WASHINGTON — Federal Reserve policymakers, meeting for the final time under Chairman Alan Greenspan, yesterday raised the main U.S. interest rate to 4.5 percent and suggested the run of increases is still not finished.

Fed officials stopped saying rates may rise at a "measured" pace, a phrase used at each meeting since May 2004. "Some further policy firming may be needed" to ensure the economy can grow without stoking inflation, the Federal Open Market Committee said in a statement after meeting in Washington.

The 14th straight rate increase was Greenspan's final stamp on Fed policy.

The unanimous decision lifted the target rate from 4.25 percent to the highest since May 2001. The main changes in yesterday's statement were the dropping of the word "measured" and the substitution of "may be needed" instead of "is likely to be needed."

In Hawai'i, First Hawaiian Bank, Bank of Hawaii and American Savings Bank said they would raise their prime lending rate to 7.5 percent from 7.25 percent.