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Top Federal Reserve officials ADMIT that soaring consumer prices may last longer than anticipated

Fed Chair Jerome Powell continued to play down soaring prices, but other officials say that the inflation trend could persist

Fed Chair Jerome Powell Insists Inflation Surge Is ‘Transitory’



A period of high inflation in the United States may last longer than anticipated, two U.S. Federal Reserve officials admitted on Wednesday, just a day after Fed Chair Jerome Powell continued to play down soaring prices.

The admissions follow data showing inflation hit 5 percent in May, the highest annual rate since 2008, putting pressure on the Fed to raise interest rates and stop flooding the economy with money through bond purchases.

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