Fed likely to pause rate hikes, raise growth forecast

WASHINGTON – Analysts expect the United States Federal Reserve to pause interest rate hikes on Wednesday as the central bank looks to tame inflation while avoiding a recession, despite a recent energy-fueled rise in consumer prices.

After 11 interest rate hikes since March last year, inflation has fallen sharply but remains stuck stubbornly above the Fed’s long-run target of 2% per year — keeping…