The Globe and Mail reports in its Wednesday edition that fresh off the worst inflation shock in decades, Americans are once again bracing for higher prices. A New York Times dispatch to The Globe says that expectations about future inflation have started to move up, according to metrics closely watched by officials at the Federal Reserve. So far, the data, including a consumer survey from the University of Michigan and market-based measures of investors' expectations, do not suggest that price pressures are perceived to be on the verge of spiralling out of control. But the recent jump has been significant enough to warrant attention, stoking yet more uncertainty about an economic outlook already clouded by President Donald Trump's ever-evolving approach to trade, immigration, taxation and other policy areas. Consumer confidence fell sharply in February and inflation expectations rose as Americans fretted about the surging price of eggs and the potential impact of tariffs. If those worries persist, it could be a political problem for Mr. Trump. It would also add to the challenge facing policy-makers at the Fed. "This is the kind of thing that can unnerve a policy-maker," said UBS economist Jonathan Pingle.
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