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JAN. 21, 2015
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Fed officials have noted surveys of consumers and businesses that suggest somewhat higher inflation. So they have been reluctant to react to bond market measures pointing to inflation below their targets by, for example, postponing interest rate increases.
In order to figure out what is really going on with inflation expectations among key business executives, Janet Yellen, the Fed chairwoman, could do worse than to check in with a sports franchise a mere three miles away from her office. If she needs directions, she has a former colleague who could surely point the way.
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