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President Donald Trump's plans to upend U.S. trade policy with import tariffs and new negotiations, slash taxes, and spend on infrastructure makes the Federal Reserve's work challenging this week.Fed members have raised the possibility they may have to increase interest rates faster than they had planned before Trump's surprise election victory, and have said they will be watching for the new administration's policies.The Fed in December raised rates for only the second time in a decade, increasing the target range by a quarter point to 0.5-0.75 percent to help head off inflation as the somewhat sluggish recovery from the Great Recession continues.Despite years of low inflation, the Fed's favored price measure, the personal consumption expenditures index, has been trending up slowly.Fed Chair Janet Yellen has said the economy is on course to meet the Fed's targets for inflation and full employment, but they will be watching to see what policies the administration pursues.
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