You can add a link to text in the editor using either the formatting menu or a keyboard shortcut.
In the editor, highlight the text where you'd like to create a hyperlink.
In the formatting toolbar, click the dropdown menu for inline styles such as bold, italic, link, etc., and select the link icon. You can also use the keyboard shortcut cmd + k to quickly add a link to your selection.
Type or paste the URL you want to link to, then hit Apply.