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© Bloomberg. Lael Brainard, governor of the U.S. Federal Reserve, listens during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, D.C., U.S., on Thursday, Jan. 13, 2022. Brainard, nominated by President Biden to serve as Fed vice chair, said tackling inflation and getting it back down to 2% while sustaining an inclusive recovery is the U.S. central bank’s most pressing task.
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(Bloomberg) — Federal Reserve Governor Lael Brainard said the U.S. central bank is ready to raise interest rates next month and begin shrinking its balance sheet in coming meetings.
“Given we have seen quite strong data, I do anticipate it will be appropriate at our next meeting to initiate a series of rate increases,” Brainard said Friday during a panel discussion at a conference in New York hosted by the University of Chicago Booth School of Business.
“We have a recovery today that is much stronger and faster than in the last cycle. So I do believe it will be appropriate to commence that runoff in the next few meetings.”
©2022 Bloomberg L.P.
Brainard Says It’s Appropriate to Start Series of Fed Hikes in March
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