Economics
Fed's Brainard Backs Balance-Sheet Runoff ‘Soon,’ Wary on Rates
- Fed governor signals future hikes hinge on higher inflation
- Outlines potential differences in global central bank options
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Federal Reserve Governor Lael Brainard sounded a note of caution over further interest-rate increases while signaling she’s comfortable with pressing ahead “soon” with plans to start shrinking the central bank’s $4.5 trillion balance sheet.
“I will want to monitor inflation developments carefully, and to move cautiously on further increases in the federal funds rate, so as to help guide inflation back up around our symmetric target,” Brainard said in the text of a speech she’ll deliver Tuesday in New York.