Inflation jolt as groceries gasoline and rents rise in January
U S inflation accelerated with a 3 percent year over year rise in January led by higher grocery and gas costs and rents. Core prices up 3.3 percent. Stocks fell and bond yields rose as traders priced in fewer rate cuts by the Fed. Authorities warn inflation remains stubborn near the 2 percent target.
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Trump pushes reciprocal tariffs on imports globally
President Trump plans to sign an order to require U.S. tariffs to mirror foreign tax rates in a bid for reciprocity. Officials say timing remained unclear as markets brace for possible action before a visit by Indian Prime Minister Modi. Analysts warn the move could raise costs for consumers and trigger global retaliation, with mixed outlooks on its impact on inflation and growth.
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