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MNI: Brainard Says Fed Must Avoid Easing Off Too Soon

(MNI) OTTAWA
(MNI)

Vice Chair Brainard says Fed is aware of global spillovers from higher U.S. rates.

Federal Reserve Vice Chair Lael Brainard joined a growing consensus on the FOMC that a long period of restrictive interest rates is needed to bring inflation back to target, and warned against the dangers of easing off too soon.

"We are committed to avoiding pulling back prematurely," she said in the text of a speech. "We also recognize that risks may become more two sided at some point," she said, a reference to the views of some economists that going too far on rate hikes will needlessly trigger a damaging recession.

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Federal Reserve Vice Chair Lael Brainard joined a growing consensus on the FOMC that a long period of restrictive interest rates is needed to bring inflation back to target, and warned against the dangers of easing off too soon.

"We are committed to avoiding pulling back prematurely," she said in the text of a speech. "We also recognize that risks may become more two sided at some point," she said, a reference to the views of some economists that going too far on rate hikes will needlessly trigger a damaging recession.

Keep reading...Show less