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Trump withdraws interest rate cut appeal
Reports indicate that the administration of U.S. President Donald Trump has retracted its previous calls to cut interest rates due to rising inflation, which has exceeded 4%. This comes after initially considering lowering rates in light of declining inflation data that showed a 4.1% increase in May, compared to the targeted 2%. This shift follows the appointment of Kevin Warsh as the new Chairman of the Federal Reserve, who emphasized monitoring inflation and kept interest rates unchanged. Trump's changed stance reflects a new balance in his economic policies.
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