Fed signals ‘patience’ on rate cuts as data disappoints

WASHINGTON/NEW YORK  —A week of disappointing U.S. economic data, including stronger-than-expected inflation and weakening spending, has Federal Reserve policymakers doubling down on their wait-and-see approach to interest rate cuts this year, but not discouraged. The latest bit of bad news came early on Friday in the form of a 0.5-percent month-on-month surge in January’s producer
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