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Fighting Inflation Without Getting Carried Away

·5 min read
Fighting Inflation Without Getting Carried Away

This week, Federal Reserve Chairman conceded that inflation might not be “transitory,” as the Fed had long insisted. “It now appears that factors pushing inflation upward will linger well into next year,” he told the Senate Banking Committee. You could be forgiven for thinking that, even at its alarming 6.2% increase in October over the prior 12 months, the Consumer Price Index under-measures inflation.