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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