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International Business Times
International Business Times
Business
Luke Funk

Inflation Rises Sharply in January, Trump Blames Biden

Inflation Stock Market Jerome Powell US Federal Reserve
A worker sorts the money in the cash register in Miami, Florida. (Credit: Joe Raedle/Getty Images)

A key government report showed inflation in the United States rose 0.5% in January, much more than expected.

Stock market futures plunged in the moments after the number was released as expectations for interest rate cuts appear to be off the table for the near future.

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