White House will not interfere with Fed, but hopes people will ‘take a breath’

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By Andrea Shalal WASHINGTON (Reuters) -The White House on Tuesday underscored the importance of waiting for more data as the Federal Reserve signaled it could push interest rates higher than expected given less progress than central bankers had hoped in lowering inflation. Asked about Fed Chair Jerome Powell’s comments earlier in the day that it would be appropriate to raise rates more than expected in the face of those setbacks, and possibly at a swifter pace, a White House official, who declined to be named, said it was vital not to rely too much a single month’s data. “The White House isn’t…

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