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Fed Eyes Rate Hike Amid Rising Inflation | Eau Claire News
Consumer prices surged 3.4% last month, fueled by soaring gas prices and a worrying spread of inflation across goods and services. Core inflation — excluding food and energy — climbed 0.3%, signaling deeper, longer-term pressure. Consumer confidence hit a 70-year low as people brace for more economic strain. With the Fed meeting next week, odds of another rate hike jumped to 90%, as officials warn that without action, inflation could spiral. But with oil prices and supply chains driving costs, and rate hikes taking months to bite back, policymakers face a tough balancing act: cool inflation…
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