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The Federal Reserve's preferred inflation gauge ticked higher last month in a sign that President Donald Trump's broad-based tariffs are starting to lift prices for many goods
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President Trump wants the Fed to slash borrowing costs, but the central bank is unlikely to take such aggressive steps even once it begins to lower interest rates.
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The central bank kept interest rates steady for a fifth straight meeting, despite badgering from President Trump. It has "made no decisions" on cutting rates at its next meeting, the Fed chair said.
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