Elizabeth Warren had to explain to President Trump’s pick to lead the White House Council of Economic Advisers that 4.2 percent is more than 3.4 percent. At a confirmation hearing Thursday for Christopher Phelan, the Democratic senator made the point that inflation is outpacing wage growth, and thereby diminishing Americans’ purchasing power. “You’ve already told me inflation is 4.2 percent, right? What’s the annual wage growth right now?” Warren asked Phelan, an economist at the University of

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