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Kevin M. Warsh, in his first testimony to Congress as chairman of the Federal Reserve, did not shed light on whether he supported higher interest rates to tame price pressures.
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The news of an improvement in consumer prices in June came as the U.S. and Iran escalated attacks, risking a return to high energy prices.
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The Consumer Price Index fell to a 3.5 percent annual increase in June, and prices marked their biggest drop from a month earlier since 2020.
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