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Kevin Warsh held his first news conference since taking over as the Federal Reserve chair. With inflation at its highest level in three-plus years, Warsh and his colleagues held interest rates steady.
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Officials at the Federal Reserve were split between no cuts this year and one or more rate increases as they braced for higher inflation, according to a new set of projections.
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Gundlach said Warsh's stance reduces the risk of overly accommodative monetary policy that could reignite inflation and push longer-term borrowing costs higher.
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What experts make of the men's team's official off-duty fashion as they prepare for their first World Cup match.
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The preliminary agreement may not have an immediate effect on prices at the pump. Damaged infrastructure and risky transport could keep costs up.
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As investors look to the formal signing of the Iran deal on Friday, equities are hitting fresh highs, oil is down and yields are pulling back.
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