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U.S. producer prices rise; Fed still seen cutting interest rates

“The new data on producer prices have little implication for our monetary policy outlook,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania” writes Midwest Communications Inc for WASHINGTON (Reuters) – U.S. producer prices unexpectedly rose in August and underlying producer inflation rebounded, but the data on Wednesday did not change financial market expectations that the Federal Reserve will cut interest rates again next week to support a slowing economy.Core goods prices were unchanged last month.President Donald Trump on Wednesday called on the Fed to push interest rates down to zero or into negative territory.Goods prices declined 0.5% last month, also the largest drop since January, after rising 0.4% in July.

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