Inflation finishes 2024 well above Fed’s 2% target, PCE shows. Rate cuts on hold.

Inflation finishes 2024 well above Fed’s 2% target, PCE shows. Rate cuts on hold.




The price gauge used by the Federal Reserve to help set U.S. interest rates accelerated in December, pushing the bank further from its inflation goal and reducing the chance of another reduction in borrowing costs soon.



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