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Fed's Yellen downplays long-term inflation risk
AZ Central: WASHINGTON (AP) -- Federal Reserve Chair Janet Yellen is downplaying concerns about rising inflation despite recent signs that price increases are picking up.
Consumer prices have risen 2.1 percent in the past 12 months, the Labor Department said Tuesday. If maintained over time, that rate would exceed the Fed's target for inflation of 2 percent and signal a potential need to raise short-term interest rates from near zero.
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