New York Fed model finds inflation pressures more persistent than thought

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By Michael S. Derby (Reuters) – In another setback for the Federal Reserve’s inflation fight, data showing inflationary pressures cooling in recent months were in fact a mirage, and show underlying price pressures actually have been accelerating. The new findings out Thursday from the New York Fed add a fresh complication to the monetary policy outlook and could help reinforce the view that aggressive Fed rate hikes have yet to make the needed dent in price pressures. That, in turn, could drive the central bank to go even further with rate increases over time. The New York Fed report focuses o…

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