Fed's preferred inflation measure cooled slightly, increasing the chances the central bank will cut a key rate next week

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So-called core inflation in the US decreased slightly according to the latest statistics. This is considered to increase the likelihood that the Federal Reserve will cut interest rates next week.

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New data released today showed that consumer confidence in the United States improved in December for the first time in almost six months, while inflation expectations eased. The latest figures further increase the chances of a December interest rate cut.