Inflation in the United States rose 7% over 2021, an increase not seen since June 1982, the US Department of Labor said Wednesday. With energy and food prices removed from the equation, the “core” inflation rate in the US was 5.5% in 2021, the greatest rate increase since 1991. The inflationary pressures on the economy have come with political costs for US President Joe Biden as his administration hopes to steer an economic recovery. On Wednesday, Biden said his administration had “more work to do with price increases still too high.” Is the Federal Reserve concerned about …
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