US Fed to stand pat as inflation conundrum persists

Washington

THE moribund inflation seen in the world's largest economy over the last year is a "mystery", a "surprise" and a "concern" all at once, in the words of US central bank chief Janet Yellen.

And the dilemma - why price pressures have not picked up despite nearly a decade's worth of falling unemployment and growth - will be squarely at the fore when Federal Reserve policymakers gather on Tuesday for a two-day meeting in Washington.