Americans view inflation, which is near 40-year highs, as the top problem facing the country today by a very wide margin. No other concern comes close.
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Members of the Federal Reserve, the central bank tasked with deflating inflation from 8.3% to its goal of around 2%, are now raising interest rates in an attempt to cool the economy. A policy-induced economic slowdown is a painful endeavor: Markets briefly crashed into bear territory Friday and many analysts believe a recession is unavoidable. That's okay: Medicine doesn't have to go down easy if it works fast and it works well.
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