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July 26 - U.S. Federal Reserve policymakers on Friday got fresh evidence of progress on their battle with inflation, fueling expectations they will use their meeting next week to signal interest-rate cuts starting in September.
That put the year-over-year increase -- which the Fed targets at 2% -- at 2.5%, after rising 2.6% in May. "From the Fed’s perspective, cumulatively, we think the data show enough progress - on both inflation and labor market conditions - for policymakers to open the door to a rate cut in September at next week’s FOMC meeting," wrote High Frequency Economics' chief US economist Rubeela Farooqi.
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