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Saturday, April 20, 2024

Inflation Report Likely to Seal Case for 0.75-Point Rate Rise in July

Another big increase in consumer prices last month keeps the Federal Reserve on track to raise its benchmark interest rate by 0.75 percentage point at its meeting later this month. The consumer-price index rose 9.1% in June from a year earlier, the Labor Department said Wednesday, a 41-year high. …

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