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US inflation hits 3.7%, raising odds of Fed rate hike in October
Source: Hindu BusinessLine · 2 hr ago
Summary
U.S. consumer prices rose at an annual rate of 3.7%, driven by higher fuel costs and expanding price pressures across the economy. The increase has made analysts more likely to expect the Federal Reserve to raise interest rates at its upcoming meeting. Markets are adjusting their expectations in response to the stronger inflation reading.
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From the original report
Higher fuel costs and broadening price pressures complicated the Federal Reserve’s policy outlook, while markets reassessed the likelihood of another rate increase.
Excerpt from Hindu BusinessLine.
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