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Record US inflation growing concern for Fed, business

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AFP

Washington (AFP) – The scourge of rising prices now ranks among American business leaders’ top concerns, according to a survey released Thursday, while Federal Reserve officials indicated the central bank is ready to move against inflation. Official data showed signs the wave of increases may have peaked at the end of the year, but with inflation at its highest level in nearly four decades, more economists and some Fed officials say the bank might have to be more aggressive to stem the surge. Inflation is the number-two worry among chief executives, behind labor shortages, and the price pressu…

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