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U.S. Inflation Hits Seven-Month High, But Fed Still Expected To Cut Rates Next Week Amid Softening Labor Market
U.S. consumer prices rose in August at the fastest pace in seven months due to higher housing and food costs, but rising jobless claims kept the Fed on track to cut rates next week, according to Reuters. The Labor Department reported the biggest annual inflation rise since January, stoking stagflation fears and complicating the Fed’s upcoming ...
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