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flag US inflation exceeds Federal Reserve targets, but Fed may cut rates due to job market woes.

flag US inflation rose to 2.9% year-over-year in August, with core prices up 3.1%, both above the Federal Reserve's 2% target. flag Higher gas, food, and airfare costs contributed to the increase. flag Despite rising inflation, the Fed is expected to cut short-term interest rates at its upcoming meeting due to a weakening job market, with unemployment claims rising and the unemployment rate at 4.3%.

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