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MARKETS: Inflation hits 3.1%, a 6-year high as Fed mulls further QExit

Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action after the Producer Price Index rises 0.5% for the month of May, coming in at 3.1% year-over-year ahead of the Federal Reserve's FOMC statement on monetary policy due at 2:00 pm ET today, after which Chairman Jerome Powell will conduct a press conference at 2:30 pm ET.