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Steadily firming U.S. inflation supports Fed rate hike

By Lucia Mutikani WASHINGTON (Reuters) – Underlying U.S. inflation pressures rose in November, which could give the Federal Reserve more confidence to raise interest rates on Wednesday, even as renewed weakness in gasoline prices kept overall consumer prices in check. The Labor Department said on Tuesday its so-called core Consumer Price Index, which excludes food and energy, gained 0.2 percent last month. It was the third straight month that the core CPI increased by that margin, and reflected rising rents, airline fares,

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Steadily firming U.S. inflation supports Fed rate hike

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Fed begins two-day meeting to decide on interest rate hike

WASHINGTON (Reuters) – Top officials at the Federal Reserve on Tuesday began a two-day policy meeting that is expected to end with the first U.S. interest rate increase since 2006. The meeting began at 1 p.m. EST, a

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Fed begins two-day meeting to decide on interest rate hike