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NEC's Brainard-Reason To Believe Inflation Near 2% Pre-Election

WHITE HOUSE

Speaking to reporters in Washington, D.C., National Economic Council (NEC) Director Lael Brainard states that she sees housing inflation coming down "considerably" in H223 while broader inflation will "continually" improve over the same period. Says that she believes there is "reason to believe [inflation] can get near 2% pre-election [Nov. 2024]."

  • Wires report that Brainard downplays the risk of recession in the US, pointing to resilience in the economy.
  • Says that President Joe Biden wants a debt-limit fix that sees 'hostage taking' off the table.
  • Brainard's comments on a 'continually' improving inflation picture in H223 comes amid the continued feed-through impact of significant gov't spending projects, such as the Inflation Reduction Act and the COVID-related CARES Act, on the jobs market and household spending. MNI has just posted our latest FedSpeak podcast, in which we talk to former Dallas Fed President Robert Kaplan on the impact of robust US fiscal policy on the trajectory of rates.

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