Peter Morici: Pausing rate hikes would saddle Americans with much higher inflation than the Fed’s 2% target

Peter Morici: Pausing rate hikes would saddle Americans with much higher inflation than the Fed’s 2% target

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Federal Reserve policymakers have indicated they may pause interest-rate hikes — a decision that would sentence Americans to inflation considerably above the Fed’s 2% target. Much has been made of raising the fed-funds rate from near zero to just above 5% in just 14 months, but the Fed has not…

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