Inflation Data this Week Could Show Prices Cooling; Fed Rate Hikes Likely to Slow or Pause If Trend Continues
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New inflation data out Thursday expected to show cooling prices; core inflation seen up just 4.1% annually vs August.
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Fed raised rates sharply this year to control inflation, now in wait-and-see mode after prices slowed.
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Further slowing could lead Fed to pause rate hikes, but higher inflation could spur more increases.
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Mortgage rates already at 23-year highs; more Fed hikes would push them higher and hit housing market.
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Challenges for consumers ahead with higher rates, end of student loan pause, rising gas prices, and dwindling savings.