Wall Street Rallies As Inflation Data Fuels Fed Rate Pause Hopes

<p>Wall Street rose on Thursday after milder-than-feared July consumer prices data fueled hopes the Federal Reserve could leave interest rates unchanged next month. The consumer price index (CPI) for July climbed 3.2% on an annual basis, less than the 3.3% rise expected by economists. Excluding volatile components such as food and energy, prices rose 4.7% in the 12 months to July compared with a 4.8% rise seen in the month before. Separately, the number of Americans filing new claims for unemployment benefits rose by 248,000 last week, more than estimates of 230,000 additions. Traders remain optimistic the Fed has completed its aggressive […]</p>
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