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The easiest way is to use Freeze Frame.
Set the CTI playhead at the point you want the freeze and click the little camera icon in the lower right of the Monitor panel. On the option screen, select the option to Insert In Movie. The freeze frame will automatically be indicate at the position of your CTI.
Thanks a lot, Steve.
Now I see it was also in the help file but I was searching under effects chapter...... :-)
Welcome to the forum.
Note: when you create your "Freeze Frame," it will be created at the default Duration (Edit>Preferences>Still Duration), but you can click-drag on the Tail of that Still Frame, and increase, or decrease the Duration, as is needed. If one just click-drags (no modifier key used), then the increase/decrease in Duration will cause all Clips/Stills after it, to Ripple and move to match your change in Duration.
If one wants to alter the "speed" of a Clip, or a portion of a Clip, prior to the Freeze Frame, they can Rt-click on that Clip, and apply Time Stretch. If one wants part of the Clip to run at "normal," but then have part "slow down," just use the Razor/Scissors Tool to Cut that Clip into sections, and apply Time Stretch to the desired "parts" of that Clip, leading up to the Freeze Frame.