Fed Extends Pause on Rate Hikes but Keeps Door Open to Moving Higher

WASHINGTON—Federal Reserve Chair Jerome Powell hinted the central bank might be done raising interest rates for now but was careful not to rule out another increase after officials extended a pause in hikes.

Officials voted unanimously on Wednesday to leave rates unchanged at a 22-year high. “The committee is proceeding carefully,” Powell said during a press conference where he said nothing to shift the market’s expectation that officials won’t raise rates in December.