NewsWatch: U.S. wholesale inflation sinks in February on lower oil prices as coronavirus hinders travel

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MARKETWATCH FRONT PAGE

The wholesale cost of U.S. goods and services posted the biggest decline in February in five years, reflecting a large drop in oil prices likely tied to disruptions in global travel due to the coronavirus. The producer price index sank 0.6% last month. See full story.

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Loretta Mester, the president of the Cleveland Fed, on Tuesday said Congress needed to spend more money to ward off the ‘dire scenarios’ the economy is facing. See full story.

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