The Personal Consumption Expenditures price index showed little sign of easing in August, though revised data showed inflation had been slightly cooler than previously believed.
The immediate question confronting Federal Reserve officials, led by Kevin M. Warsh, is how quickly they need to deliver additional rate increases in order to firm their grip on inflation.
As the president extolled the strength of the economy on the global stage, Americans continued to feel the sting of rising prices stemming from the war in Iran.
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