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Kevin Warsh, the new chairman of the Federal Reserve, has declared his determination to defeat inflation — a clear statement of priorities from the central bank's top official.
But investors who know him from his Wall Street background are asking the harder follow-on question: does he mean it enough to absorb the costs?
What Inflation-Fighting Actually Requires Inflation is the sustained rise in prices across an economy.
When it runs persistently above the Fed's target, it erodes purchasing power and forces households and businesses to pay more for the same goods and services year after year.
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