Business & Economy
U.S. inflation rises, keeping pressure on Fed
The main inflation gauge used by the Federal Reserve to set U.S. interest rates rose sharply in August, underscoring why the central bank raised interest rates earlier this month for the first time in three years.
AI Summary
The primary inflation gauge the Federal Reserve relies on jumped sharply in August, reinforcing the central bank’s decision to raise interest rates earlier this month. This marks the first rate hike in three years.
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