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Scott Horsley

Prices for some of your favorite things are going up. The big question is how long the price hikes will last.

Consumer prices rose 0.6% in March, according to the Labor Department — the sharpest increase in nearly nine years. Higher gasoline prices account for nearly half the increase, but prices for hotel rooms, baseball tickets and haircuts were also higher.

The United States may just become the engine of global economic growth this year, according to a new forecast released Tuesday by the International Monetary Fund.

The IMF expects the U.S. economy will grow 6.4% this year, its strongest growth in decades. That's faster than the 5.1% growth it was projecting just two months ago and nearly double the growth rate it predicted in October.

It's an idea that has been debated widely across global capitals: impose the same minimum corporate tax rate all over the world to prevent companies from shopping around for the country that can offer the smallest tax bill.

Now, it has a powerful new adherent. Treasury Secretary Janet Yellen on Monday expressed support for a minimum tax rate, providing the vital backing of the U.S. government.

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Employers added more than 900,000 jobs in March as the public health outlook improved and the federal government pumped more money into people's pockets. President Biden celebrated the jobs tally as he spoke to reporters this morning at the White House.

Updated April 2, 2021 at 12:34 PM ET

Hiring accelerated last month as U.S. employers added 916,000 workers to their payrolls. It was the largest job gain since August, fueled in part by an improving public health outlook and a new round of $1,400 relief payments.

President Biden cheered the encouraging jobs report during remarks to reporters at the White House.

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