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Fed’s Brainard warns restrictive interest rates may be needed ‘for some time’

Additional ‘inflationary shocks’ cannot be ruled out, Fed vice chair says

Federalreserve, Public domain, via Wikimedia Commons

By Megan Henney


Federal Reserve Vice Chair Lael Brainard on Friday stressed the need to combat scorching-hot inflation with higher interest rates and pledged the central bank will not prematurely pull back on tighter monetary policy.

In a speech at the Federal Reserve Bank of New York, Brainard emphasized that officials will proceed both “deliberately and in a data-dependent manner” when forging monetary policy amid growing concerns about a global recession.

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