Thursday, 5 January 2017

Wall Street climbs; Fed minutes confirm inflation jitters

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US shares ended higher on Wednesday even after minutes from the Federal Reserve's December meeting showed concerns that quicker economic growth under President-elect Donald Trump could require faster interest rate increases to ward off inflation. US stocks have surged over the past two months on expectations that Trump will stimulate the economy with tax cuts and infrastructure spending and eliminate regulations in the financial industry. But investors also worry that Trump's measures could stir inflation and push the US central bank to raise rates more aggressively than anticipated.

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