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Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed would cut interest rates. After some persistently high inflation reports at the start of 2024, Powell said, the data for April and May “do suggest we ...
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The US Dollar is pushing higher today, despite a set of weaker-than-forecast ISM figures yesterday. The manufacturing PMI for June was seen slipping back to 48.5 from 48.7 last, below the 49.2 the market was looking for. Importantly too, the prices component was seen cooling to 52.1 from 57 prior, below the 55.8 the market was looking for. This is the ...