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Fed’s Barkin Urges Keeping Rates High to Avoid 1970s-Style Error

Increases in consumer prices slowed to an 8.5% year-over-year pace last month, a report showed Wednesday, from 9.1% in June, which was a four-decade high. A separate report Thursday showed that producer prices fell in July from the month prior, the first drop in more than than two years. 

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