Economics
Brainard Says Fed to Be Patient as U.S. Recovery Strengthens
- Says the outlook considerably brighter but uncertainty remains
- Brainard: new Fed policy framework implies ‘resolute patience’
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Federal Reserve Governor Lael Brainard said the central bank will take a patient approach to removing monetary stimulus even as the U.S. economic recovery gains momentum.
“It will take some time to achieve substantial further progress,” Brainard said Tuesday in a virtual speech to the National Association for Business Economics. “A patient approach based on outcomes rather than a preemptive approach based on the outlook” will be more effective at achieving the central bank’s goals of sustainable 2% inflation and broad-based and inclusive maximum employment, she said.