Premarket stocks: Surging inflation sets up high-stakes fight in Washington

What’s happening: Investors, economists and policymakers were rattled Wednesday by the news that annual consumer price inflation hit 6.2% in October, the biggest increase since November 1990.

“Holy cow,” CNBC anchor Rick Santelli told viewers when the data dropped.

For months, the Biden administration and the Fed have pushed the public to look…

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