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Top Fed Official Says Continued High Inflation Would Be Problematic for Central Bank
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A top Federal Reserve official said he expects this year’s surge in inflation to ease as supply and demand imbalances fade over time and that an extended run of higher prices through next year would be a problem for the central bank.
Those imbalances should dissipate “without putting persistent upward pressure on price inflation and wage gains adjusted for productivity,” said Fed Vice Chairman Richard Clarida in remarks prepared for delivery on Monday morning.
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