The Federal Reserve can’t catch a break when it comes to its 2 percent inflation goal: Cheap commodities, a strong dollar and a slow economic recovery have kept their preferred headline index far lower. Even so, Chair Janet Yellen and her colleagues should be able to take comfort in steady core inflation, which strips out volatile food and fuel costs. The Fed releases its rate decision at 2 p.m. in Washington, and its statement is sure to include an assessment of these recent price developments.
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