Chances of a Federal Reserve rate hike fade as inflation worsens
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WASHINGTON (AP) — The jump in gas prices stemming from the war in Iran has had another impact that may also affect many Americans’ finances: Higher interest rates. Longer-term interest rates have risen quickly since the war began Feb. 28, pushing up the cost of mortgage loans , auto loans, and business borrowing. And with inflation measures likely to rise in the coming months, the prospect of interest rate cuts this year by the Federal Reserve is fading . Wall Street investors instead see the
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