Fed, inflation
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Stocks are back on the doorstep of record territory after a volatile month on Wall Street, but persistent inflation worries and souring consumer sentiment are keeping investors uneasy ahead of the Fed’s last policy meeting of the year.
A shutdown-delayed federal report released Friday found overall U.S. inflation crept up slightly in September, driven mostly by rising gas and grocery prices as consumer spending cooled.
Follow for live news and analysis of the Fed's preferred inflation gauge, the personal consumption expenditures price index. The September reading is due to be released on Friday morning.
Core inflation, a price measure closely watched by the Federal Reserve, came in cooler than expected in September, according to delayed federal data, a win for Republican President Donald Trump, who wants the central bank to cut interest rates more quickly and is under pressure from Democrats over affordability.
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Trump will go to Pennsylvania on Tuesday to discuss his administration's efforts on rising prices as Americans say they continue to have concerns about the state of the economy.
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