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Stephen Moore, Donald Trump’s new nominee for a seat on the US Federal Reserve’s Board of Governors, has proposed that the Fed follow commodity prices as a measure of inflation. There are a lot of ways to measure inflation. But sometimes also people who want to nudge the Fed in a certain direction go “inflation shopping.” They pick the inflation measure that gives them the result they need. Brendan Greeley, US editor for FT Alphaville, explains.
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