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US Fed Worries About Inflation

Inflation remains a big concern despite some relief from the recent rapid fall in energy prices

Inflation remains a big concern despite some relief from the recent rapid fall in energy prices, top Federal Reserve officials said on Tuesday.

Jeffrey Lacker, of the Richmond Fed, said runaway inflation remains a the greater risk even if the U.S. economy slips into recession, which he argued is still a possibility.

"We can't sustain inflation at this pace," Lacker told reporters following at the Richmond Fed's Charlotte branch. "Moderation in growth by itself isn't likely to bring down inflation dramatically."