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Federal Reserve's preferred inflation metric rose to 2.7% in March Financial TimesThe Fed's preferred inflation gauge just moved in the wrong direction CNNHot in Here: The Bloomberg Close, Americas Edition BloombergKey Fed inflation measure rose 2.8% in March from a year ago, more than expected CNBCStubborn Inflation Could Prod Fed to Keep Rates High for Longer The New York Times
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Oil futures finished below Friday's session highs after the latest U.S. inflation data raised doubts that the Federal Reserve will lower interest rates anytime soon.
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Under the proposal, Fed Chair Jerome Powell could be removed before his term ends in 2026 and the central bank would have to consult Trump on interest rate moves.
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Stubborn inflation has led traders to forecast far fewer rate cuts by the Federal Reserve than just a few months ago.
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