Fed Set to Raise Rates by 0.75 Point and Debate Size of Future Hikes

Federal Reserve officials are barreling toward another interest-rate rise of 0.75 percentage point at their meeting Nov. 1-2 and are likely to debate then whether and how to signal plans to approve a smaller increase in December.

“We will have a very thoughtful discussion about the pace of tightening at our next meeting,” Fed governor Christopher Waller said in a speech earlier this month.

Some officials have begun signaling their desire both to slow down the pace of increases soon and to stop raising rates early next year to see how their moves...