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Oct 11 - The case for quarter-point U.S. interest rate cuts at upcoming Federal Reserve policy meetings appeared intact on Friday after a report showed producer prices were flat last month compared with August, suggesting inflation continues on track toward the Fed's target.
But the bulk of bets remained on quarter-point reductions at each of the Fed's meetings well into 2025, bringing the policy rate to the 3.50% to 3.75% range by the middle of next year. The Fed targets 2% inflation as measured by the year-over-year increase in the personal consumption expenditures price index.
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