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March Inflation Data Will Keep Fed Interest Rates on Hold

March Inflation Data Will Keep Fed Interest Rates on Hold

March data released Friday confirmed the Federal Reserve still has more work ahead to slow the pace of inflation. In the previous three months, the PCE price index rose less than 0.1% on average. The annual increase in inflation has come in between 2.4% and 2.6% for four straight months through March, versus the Fed’s 2% target.