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A recent report showed that inflation rates in the United States may have risen slightly in May, providing limited evidence of a widespread impact from tariffs, which the Federal Reserve expects to become more apparent later in the year.

Before the key figures are released next Friday, and following the Federal Reserve's decision to hold interest rates steady last week, Federal Reserve Chairman Jerome Powell is set to testify before Congress over two days, where he will again present the justifications for the central bank's wait-and-see policy.