Surging inflation fears sent markets tumbling and Fed officials scrambling

(CNBC) The early data is in for the path of inflation during the first three months of 2024, and the news so far is, well, not good. Pick your poison. Whether it’s prices at the register or wholesale input costs, while inflation is off the blistering pace of 2022, it doesn’t appear to be going away anytime soon. Future expectations also have been drifting higher.

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