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Inflationary pressures may have induced the recent market selloff, but Fundstrat's Tom Lee believes that equities could still end the year higher. In fact, the firm's head of research believes that investors may be putting too much weight into the recent economic data releases showing inflation above economists' expectations. "The narrative got muddled because that CPI report was a disappointment. But it was driven by what we'd call stubborn components," he said on CNBC's " Closing Bell " on Friday afternoon. "Inflation is normalizing, it's just not evident in the...