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Fed officials indicate the U.S. is nearing its 2% inflation goal, with a likely interest rate cut this month.
Federal Reserve officials say the US is on track to reach its 2% inflation target despite recent increases.
The Fed has been adjusting interest rates to control inflation, which stood at 2.3% in October.
With the economy showing growth and low unemployment, there's a 63% chance the Fed will cut interest rates further this month, potentially lowering the benchmark rate to between 4.25% and 4.50%.
5 months ago
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