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The Federal Reserve’s preferred measure of inflation – the Personal Consumption Expenditure (PCE) price index – rose more than expected in March, confirming concerning signs of a resurgence in inflationary pressures in the first quarter of the year.<br/><br/>The higher-than-expected PCE report serves as a stark reality check for traders, further postponing expectations of a Federal Reserve rate cut that had already been dwindling in recent weeks.
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