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Fed's Brainard hints at aggressive policy tightening as inflation roars
Strong job market, high inflation rate ‘tale of two economies’: Steve Moore
Economist Steve Moore weighs in on the March jobs report.
Federal Reserve Governor Lael Brainard suggested on Tuesday that central bank policymakers could soon move aggressively to tighten policy as it seeks to cool red-hot inflation.
"Inflation is much too high and is subject to upside risks," Brainard said in remarks prepared for delivery at a Minneapolis Fed conference. "The Committee is prepared to take stronger action if indicators of inflation and inflation expectations indicate that such action is warranted."
FED RAISES INTEREST RATES FOR FIRST TIME IN 3 YEARS, PROJECTS 6 MORE HIKES AS INFLATION SURGES
The Fed voted in March to raise its benchmark federal funds rate by 25 basis points to a range between 0.25% and 0.5%. Officials projected at least six more, similarly sized increases over the course of this year.