MNI BRIEF: Fed’s Brainard: Hard To See Case For Pause -CNBC

Inflation is still far to high for Federal Reserve officials to consider a pause or reduction in the pace of interest rate hikes, Fed Vice Chair Lael Brainard told CNBC Thursday.

“Right now it’s still very hard to see the case for a pause,” Brainard said. “On inflation, I’m going to be looking to see a consistent string of decelerating monthly prints on core inflation before I feel more confident we’re getting to the kind of inflation trajectory that’s going to get us back to our 2% goal.”

The deceleration in inflation the Fed is hoping to see in the fall may not materialize, current and former Fed economists told MNI. Minneapolis Fed Research Director Mark Wright also said in an interview last week policymakers might consider slowing the pace of rate increases as the fed funds rate approaches neutral.