Federal Reserve officials this week reiterated their support for loose monetary policy and downplayed the threat of inflation, despite a recent report that showed in April the Consumer Price Index (CPI) increased at its fastest rate in more than a decade.
The stay-the-course approach from Fed officials defies criticism from some economists on the left and right over fears of a persistent spike in inflation that could derail the economic recovery.
Such critics rightly worry about continued…
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