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Oil prices are soaring, threatening a wider problem with inflation, but the president has insisted that borrowing costs must be lowered.
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Federal Reserve Chair Jerome Powell is due to speak Wednesday on the economy and interest rates for the time since the start of the Iran conflict.
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President Donald Trump will use Tuesday's State of the Union to champion his immigration crackdowns, his slashing of the federal government, his push to preserve widespread tariffs that the Supreme Court just struck down and his ability to direct quick-hit military actions around the world, including in Iran and Venezuela.
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