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Inflation Cooldown, Fed Watches AI | Raleigh News
Inflation’s cooling trend offers welcome relief, with a 0.4% drop in June largely driven by cheaper gas and core inflation holding steady—better than expected. Year-over-year, inflation fell to 3.5%, and core inflation dipped to 2.6%, still above the Fed’s 2% target but signaling less pressure to hike rates. Yet, looming risks include Middle East tensions pushing oil prices up and AI-driven demand soaring for chips, which is inflating prices for electronics. While Fed Chair hasn’t signaled a move, officials are split: Waller warns of potential hikes if inflation rebounds, while Williams…
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