After Fed Raises Interest Rates Wednesday, Investors to Look for Clues About What’s Next

After the Federal Reserve lifts its benchmark interest rate on Wednesday, attention will turn to what Chairman Jerome Powell says about a rate increase at the central bank’s meeting in September.

The Fed is likely to raise its federal-funds rate by 0.75 percentage point, to a range between 2.25% and 2.5%, at this week’s meeting. While further rate rises are likely this year, Mr. Powell might be less specific about his expectation for their sizes, according to analysts.