This morning's report could go a long way toward determining whether the Federal Reserve raises interest rates at its late-July meeting. Headline CPI in June fell by a far larger-than-expected 0.4%. The core rate was flat versus expectations for a rise 0.2%. The news is likely to end the growing anticipation of a Fed rate hike in July. U.S. inflation in June came in far softer than forecast, likely putting on hold what were fast-rising expectations for imminent Federal Reserve rate hikes.…
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