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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 sayys

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.

"Monetary policy will need to be restrictive for some time to have confidence that inflation is moving back to target," she said. "For these reasons, we are committed to avoiding pulling back prematurely."
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https://www.foxbusiness.com/economy/feds-brainard-warns-restrictive-interest-rates-needed-some-time