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Fed Is Set to Target Even Higher Rates as Inflation Stays Stubborn
Federal Reserve officials are likely to once again raise their outlook for how high they’ll have to lift interest rates following the latest bout of bad inflation news. Several Fed policymakers have said they want to see a decline in core inflation, a measure excluding volatile food and energy prices, before they slow the pace of rate increases. But data released Thursday showed the numbers continue to go in the opposite direction, with the core consumer price index climbing 0.6% for a second month and increasing 6.6% from a year ago, the highest level since 1982. That hardened bets officials will roll out another ... (full story)
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