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Inflation unexpectedly rose to 3.2% in February as Fed weighs rate cuts

Posted on AllSides March 12th, 2024
From The Right

Inflation unexpectedly rose to 3.2% for the year ending in February, the Bureau of Labor Statistics reported Tuesday in an update to the consumer price index, an unwelcome development that could delay the Federal Reserve‘s plans to cut interest rates in the coming months.

The rise in inflation is also bad news for President Joe Biden on the tail of his State of the Union address, in which he touted the decline in inflation over the past year.

The Fed has worked to drive down inflation for two years now by hiking interest rates....

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