Treasury Secretary Scott Bessent, in an interview on Bloomberg Television, said he hasn't looked at the CPI number that's about to be released -- he is entitled to early access --but said not to read too much into one month's number.

With the unemployment rate low and inflation above the Fed's 2% target, U.S. central bank officials have been reluctant to cut interest rates from the current 4.25% to 4.5% range until it is clear that Trump's tariff policies won't lead to a fresh surge in prices.

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