Author: Christopher Rugaber
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Federal Reserve cuts key rate but signals higher bar for future reductions
WASHINGTON (AP) — The Federal Reserve reduced its key interest rate for the third time in a row Wednesday but signaled that it may leave rates unchanged in the coming months, a move that could attract ire from President Donald Trump, who has demanded steep reductions to borrowing costs. In a statement released after a…
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Federal Reserve cuts key rate as government shutdown clouds economic outlook
WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. “Job gains have slowed this year, and the unemployment rate has edged up but remained low through August,” the Fed said in…
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US inflation stays elevated but prices rose less than feared last month
WASHINGTON (AP) — U.S. inflation remained elevated last month as gas prices jumped while the cost of rents and some services cooled, painting a mixed picture of the expenses consumers are facing in a murky economy where growth appears steady but hiring slow. Consumer prices increased 3% in September from a year earlier, the Labor…