The highest annual U.S. inflation rate in almost 31 years reverberated across financial markets and in the minds of Americans this week, damaging consumer sentiment, leaving many traders flummoxed, and causing one financial firm to warn that the proverbial “genie is out of the bottle.” Signs of growing inflation worries were seemingly everywhere on Friday, starting with the University of Michigan consumer sentiment index, which fell to the lowest level in a decade. In financial markets, interest rate traders pushed for a faster response from the Federal Reserve and investors flocked to gold GCZ21, a traditional haven…


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