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Inflation Report Keeps Fed on Aggressive Rate-Rise Path
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The acceleration in inflation last month clinches the case for the Federal Reserve to lift interest rates by at least 0.75 percentage point at its meeting next week and raises the prospect of hefty increases continuing in coming months.
Fed officials had suggested they were prepared to make their third consecutive increase of 0.75 point next week even if inflation had cooled in August, as many economists were anticipating.
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