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Stocks and bonds hit by higher oil price as fears rise over renewed inflation shock
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Oil prices hit 1-month high as US-Iran attacks dim Strait of Hormuz outlook Al JazeeraOil extends gains as Mideast tensions and Hormuz toll prospects raise supply worries CNBCAsian Oil Buyers Look to US Crude Again as Iran War Intensifies Bloomberg.com
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Kevin M. Warsh, since becoming chairman of the Federal Reserve, has declined to say whether he supports higher interest rates to tame price pressures.
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Christopher J. Waller, a governor at the Federal Reserve, said he needed to see several months of lower inflation data to feel confident about the outlook.
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Two ratings agencies have downgraded the city of Chicago and kept their negative outlooks intact, citing the city's back-to-back budget shortfalls since 2023.
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