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‘Whopping’ Golf Club Fees Cited as Example of Hidden Inflation by Philly Fed President

Federal Reserve leaders are hearing about the economic pain that inflation is causing for Americans -- including those who are members of private golf courses.

Philadelphia Fed President Patrick Harker, in a speech Tuesday on the economy and housing, said inflation is widespread and showing up in a wide array of items that are part of the consumer price index “basket” representing Americans’ expenses, and some that aren’t.