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Higher oil prices resulting from the U.S.-Israeli war in Iran are dashing hopes for any interest-rate cut by the Federal Reserve this year and even leading to growing chances of a rate hike.
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President Trump has directed that most federal payments be issued electronically, including tax refunds. Last year nearly 10 million people got their refund via a paper check.
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If oil prices stay high for months, they could bleed through to other prices, Fed governor Christopher Waller said Friday.
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Stocks slip, head for fourth-straight losing week as Iran conflict continues: Live updates CNBCStock market today: Dow, S&P 500, Nasdaq futures retreat as oil swings amid Iran war jitters Yahoo FinanceU.S. stocks fall as hopes wither for a cut to interest rates by the Federal Reserve this year Pittsburgh Post-GazetteWall Street slips as Middle East turmoil clouds Fed outlook The Detroit News
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Christopher J. Waller, a Federal Reserve governor, said he would support rate cuts later this year if the labor market continued to weaken.
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