Fed expected to pause rate cuts after 3 straight reductions amid uncertainty over jobs, inflation

Federal Reserve policymakers are expected to hold interest rates steady when they conclude their first meeting of the new year on Wednesday, as central bank officials look to navigate stubborn inflation and a softening labor market.

The central bank's monetary policy panel, the Federal Open Market Committee (FOMC), is expected to leave the Fed's benchmark federal funds rate target unchanged at a range of 3.5% to 3.75%. It would be the first time the central bank left interest rates unchanged...