Federal Reserve Raises Rates, Signals Potential Pause

Federal Reserve Chair Jerome Powell is set to answer questions at a news conference after the rate-decision announcement. WASHINGTON—The Federal Reserve approved another quarter-percentage-point interest-rate rise and signaled it could be done lifting rates after that. The decision Wednesday marked the Fed’s tenth consecutive rate increase aimed at battling inflation and will bring its benchmark federal-funds rate to a range between 5% and 5.25%, a 16-year high. In a hint that officials could pause rate increases after the latest move, they cut a phrase from their previous policy statement, in...