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By Richard Bernstein
Published: April 26 2011 14:04 | Last updated: April 26 2011 14:04
US investors are increasingly fearful of inflation. Every cycle has some growth in headline inflation, but there is a big difference between such normal, cyclical pricing pressure and the rising fear that the US economy is somehow mutating into that of a developing markets country.
Ironically, emerging market central banks' recent monetary tightening is likely to prevent US inflation from getting out of control and could actually prolong the US economic cycle.
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