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Fed rate cuts off the table as inflation surges above 4%
The Federal Reserve is likely to hold US interest rates at its next meeting as inflation remains stubbornly high, affirms the CEO of global financial advisory giant deVere Group. The comments from Nigel Green come as the Federal Reserve’s preferred inflation measure climbed to 4.1% in May, its highest annual reading since April 2023 and more than double the central bank’s 2% target. [...]