The Federal Reserve wants to see more evidence that inflation is easing before resuming interest rate cuts. The latest data presented a mixed picture. The central bank’s preferred inflation measure, released on Friday, climbed 2.6 percent in December from a year earlier, faster than its 2.4 percent rate in November and quicker than the central bank’s 2 percent target. Compared to the previous month, prices are up 0.3 percent. After stripping out volatile food and fuel costs, “core” inflation was 2.8 percent, in line with its previous reading, data from the Commerce Department showed on Friday. Price pressures have been a focal point for the Fed as it debates how quickly to resume rate cuts — it decided this week to take a breather. Since September, rates have come down by a percentage point, and now hover between 4.25 percent and 4.5 percent.
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