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Why that ‘last mile’ of the inflation fight may be more challenging
Inflation in the U.S. economy is on the retreat. But the road to ultimate victory may be harder than what’s come already, some economists argue. “The so-called last mile is going to get a lot trickier,” Mohamed El-Erian, chief economic advisor at Allianz and president of Queens’ College at the University of Cambridge, recently told CNBC. “We’re not going to have the tailwinds that we had, and we’re going to have some headwinds,” he said. Inflation measures how fast prices are rising for goods and services — anything from concert tickets and haircuts to groceries and furniture. Policymakers aim for a ... (full story)