By Eric Reed Why surging inflation suggests the Federal Reserve must be aggressive in its rate hike this week. With inflation intensifying thanks to surging oil prices on top of rebounding economic activity, pressure on the Federal Reserve at this week’s meeting is growing as well. The Action Alerts Plus team looked at the problem recently after purchasing manager indexes for February came in strong for both the U.S. and the Eurozone. “While the market continues to struggle with the latest Ukraine-Russia developments, the February Flash Composite Purchasing Managers’ Index for both the U.S. an…