Federal Reserve Vice Chair Lael Brainard said the US central bank will have to raise interest rates to restrictive levels, while cautioning risks would become more two-sided in the future.
“We are in this for as long as it takes to get inflation down,” Brainard said Wednesday at a conference hosted by The Clearing House and Bank Policy Institute in New York. “Monetary policy will need to be restrictive for some time to provide confidence that inflation is moving down to target.”
