Federal Reserve Expected to Pause Interest Rate Hikes This Month But Remains on Track for Future Increases

The Fed plans to leave rates unchanged next week but the decision is seen as temporary.
There is division within the Fed over whether to continue raising rates or pause hikes.
Inflation remains elevated, suggesting rate hikes may resume.
Never before has the Fed paused a rate hike cycle for just one meeting.
The Fed hopes markets see a one-month pause as not signaling an end to gradual rate increases.