Interest rate cut odds dwindle as inflation progress stalls

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Interest rate cut odds dwindle as inflation progress stalls

A string of hotter-than-expected inflation data since the start of the year has diminished the odds of an immediate interest rate cut by the Federal Reserve.The consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose sharply in March for the third straight month, rattling investors and triggering a broad market sell-off.Fed Chair Jerome Powell cautioned that persistently elevated inflatio…