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Why the Fed might be a little more worried than it lets on about inflation
The Federal Reserve stuck to a cautious strategy on raising interest rates in 2018, but some officials left scattered hints that they might be a bit more worried about rising inflation than the central bank let on. The Fed on Wednesday raised its benchmark fed funds rate as expected and signaled it’s still on track to raise rates a total of three times in 2018. Many Wall Street pros thought the Fed might pencil in four rate hikes this year because of higher inflation and an ultra-tight labor market. Beyond 2018 it could be a different story. For one thing, the Fed raised its projection on where it expects its ... (full story)