WASHINGTON — The Federal Reserve has again pared its plans for raising interest rates, citing the weakness of the global economy as a reason for greater caution about the prospects for domestic growth.

The Fed’s policymaking committee voted not to raise its benchmark rate at a meeting that ended Wednesday, though an increase this month was widely expected at the beginning of the year. And it pulled back sharply from a December prediction that the rate would rise by 1 percentage point this year. Fed officials now expect to raise rates by just half a percentage point this year.

Janet Yellen, the Fed’s chairwoman, said the central bank remained relatively optimistic about the domestic economy, which she said has shown no signs of damage from the wobbles of financial markets or the weakness of global growth. But she said that prudence dictated caution.

“What you see here is a virtually unchanged path of economic projections and a slightly more accomodative path” for monetary policy, Yellen said at a news conference.

There was one dissent Wednesday. Esther George, president of the Federal Reserve Bank of Kansas City, voted to raise rates by a quarter-point. A statement did not explain her reasons.

Officials also predicted that the pace of increases would be somewhat slower in coming years. Their median estimate is that the Fed’s benchmark rate will hit 3 percent by the end of 2018.

The plans for a slower climb are not a result of a comparable change in the Fed’s economic outlook. Officials still expect the economy to expand at an annual rate of about 2 percent, and they still expect inflation to rise gradually, remaining below a 2 percent annual pace until 2018.

Rather, the forecasts suggest the Fed sees room to let the economy recoup lost ground. Officials now predict that the unemployment rate will fall to 4.5 percent by the end of 2018, before rebounding to a stable level at 4.8 percent.

After five months of speculation, Redmond Airport officials announced Friday that it will be offering nonstop daily service to Phoenix Sky Harbor International Airport via American Airlines, beginning June 2.

“It makes us more accessible. I think it provides another connection, another port of call,” said Roger Lee, executive director of Economic Development for Central Oregon.

American Airlines will use a Bombardier CRJ-700 airplane, which seats 67 passengers. The flight will depart daily from Redmond at 12:01 p.m., arriving in Phoenix at 2:20 p.m. Departures will leave Phoenix at 8:15 p.m., and arrive in Redmond at 10:20 p.m.

Zachary Bass, business director for Redmond Airport, said the airport signed a contract to keep the airline here for two years.

“We’re expecting them to stay the whole time,” Bass said.

Tickets will go on sale Sunday, though the price of the tickets was not disclosed Friday.

There has been speculation about a direct flight to Phoenix since Redmond Airport received a grant for $500,000 from the U.S. Department of Transportation. The grant, which was approved by the Redmond City Council in November, came through the federal Small Community Air Service Development Program, designed to help smaller airports attract flights. Redmond was one of 11 successful applicants out of a field of 49, according to the minutes from a Redmond Airport committee meeting in January.

The grant required additional investment from Central Oregon, however. As a condition of the agreement, the Central Oregon Air Service Team, a volunteer collection of local business advocates who work to attract flights to the region, committed to raising $100,000 in matching funds.

Nicole Jurgensen, security manager for Redmond Airport, described this as a standard provision for attracting flights. Grants have also been used to draw existing flights to Los Angeles and Salt Lake City. Lee said the city of Bend has committed to $15,000 in 2016, and the rest of the money will be coming from other local governments and businesses.

“I’m still in fundraising mode,” Lee said.

In 2008, Allegiant airline began offering twice-weekly flights between Redmond and Mesa, Arizona, a suburb southeast of Phoenix. The flights were canceled permanently in 2012, after intermittent suspensions of service, according to The Bulletin’s archives.

However, Lee said he’s confident things will go differently this time around. He said having consistent daily service should help establish the route, and flying into Sky Harbor, the largest airport in Arizona, is a competitive advantage. Jurgensen added that American Airlines has a hub in Phoenix and connects to 81 locations in four countries from the airport.

“There are more connections out of Phoenix on American than out of LAX,” Jurgensen said, referring to Los Angeles International Airport.

To help with establishing a market in metropolitan Phoenix, Central Oregon Visitors Association will be investing a minimum of $50,000 in a marketing effort in the region.

President and CEO Alana Hughson said the marketing campaign will consist of targeted print and online advertising and will be implemented by the beginning of March. She said the spring campaign is designed to target older citizens with a passion for golf, as well as younger Arizonans who could be enticed by Central Oregon’s winter offerings.

“We’re fortunate to live in a day and age where we can target our messaging to very specific demographics,” Hughson said.

— Reporter: 541-617-7818, shamway@bendbulletin.com