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US inflation increased by the most in eight months in December amid a surge in consumer spending, suggesting the Federal Reserve would probably be in no hurry to resume cutting interest rates soon.
The path to the Fed’s 2% inflation target was expected to be long and bumpy, and it has been a little choppy the past couple of months, prompting the central bank to take a more cautious ...
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The Federal Reserve's preferred inflation gauge showed prices rose as expected in December, and it remains above the central bank's target level amid its ongoing efforts to wrestle down inflation.