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The Federal Reserve on Wednesday kept its key interest rate unchanged and signaled that just one cut is expected before the end of the year. With markets hoping for a more accommodative central bank, Federal Open Market Committee policymakers following their two-day meeting took two rate reductions off the table from the three indicated in March. The ...
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The dollar dropped on Wednesday after data showed that consumer prices in May rose less than economists expected, but pared losses after updated interest rate projections by Federal Reserve officials showed an expectation for only one rate cut this year. The headline consumer price index (CPI) was flat on the month, below expectations for a 0.1% gain. Core ...
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