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Fed’s Lockhart Sees ‘Inflation Anxiety’ From Commodities

Federal Reserve Bank of Atlanta President Dennis Lockhart said rising commodity prices are creating “inflation anxiety” even while consumer cost gauges fail to show broader increases.

“There is clearly rising inflation anxiety focused on particular price categories,” Lockhart said today in a speech in Atlanta. “I would expect inflation to continue to firm but not leap out of control” and approach the Fed’s informal goal of around 2 percent, with unemployment declining at a “slow pace,” he said.