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Allison Schrager: Inflation Expectations Matter for Federal Reserve’s Clout

Faster price growth can become a self-fulfilling spiral and undermine the central bank’s credibility. After decades of rarely cracking 2%, inflation was up 5.3% year-over-year in August. This was unthinkable a few years ago, and it may get worse before it gets better. Ports, rails and trucks are backed up, and supply-chain shortages abound.

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Posted: October 8, 2021 Friday 06:00 AM