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Despite Trump's pressure, high gas prices may keep Fed from cutting interest rates

Gas prices pushed inflation to its highest level in almost three years. That's likely to make the Federal Reserve cautious about cutting interest rates, regardless of pressure from President Trump.

Copyright 2026 NPR

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.
Steve Inskeep is a host of NPR's Morning Edition, as well as NPR's morning news podcast Up First.