Inflation held at 3.4% in August in consumer price index, creating tough choice for Warsh Fed

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The Bureau of Labor Statistics reported that US inflation remained steady at a 3.4% rate for the year ending in August. While recent months show signs that price pressures may have topped out over the summer, high fuel prices persist. This stability creates a difficult decision for the Federal Reserve, as inflation remains too high for their targets. These figures emerge just before a high-stakes Fed meeting where interest rate decisions are expected to be discussed.
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