Lael Brainard is an American economist and policymaker who has been in the news recently for her role as a member of the U.S. Federal Reserve's Board of Governors. Brainard was born in 1962 and has had a distinguished career in both the public and private sectors. She has served in a number of high-profile positions, including as Under Secretary of the Treasury for International Affairs during the Obama administration.
Brainard's recent appearances in the news have been largely focused on her role as a member of the Federal Reserve's Board of Governors. In this capacity, she has been closely involved in the central bank's efforts to manage the U.S. economy in the wake of the COVID-19 pandemic. Brainard has been a vocal advocate for the Fed's efforts to support the economy through low interest rates and other measures, arguing that these policies are necessary to help the country recover from the pandemic.
In addition to her work on the Federal Reserve's Board of Governors, Brainard has also been involved in a number of other policy initiatives. She has been a strong advocate for policies aimed at promoting financial stability and reducing income inequality, and has been a vocal critic of some of the Trump administration's economic policies. Overall, Brainard is widely regarded as one of the most influential and respected economists in the United States today, and her views on economic policy are closely watched by policymakers, investors, and the public alike.
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Federal Reserve officials optimistic about cooling inflation
Federal Reserve officials are optimistic about the cooling of inflation in the US, with Vice Chair Lael Brainard suggesting that price acceleration may cool without causing significant job losses. Other officials, including Loretta Mester, president of the Federal Reserve Bank of Cleveland, have also expressed optimism about the recent milder readings on inflation and wage growth.
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Federal Reserve officials are signaling a shift to smaller rate hikes to allow time for the economy to absorb the swiftest tightening of monetary policy in 40 years.
Federal Reserve expected to raise interest rates by 75 basis points
The Federal Reserve is expected to raise its target interest rate by 75 basis points at its policy meeting later this month, according to investors in contracts tied to the Fed's policy rate. This would mark the third such large increase in a row and push the Fed's target interest rate above 3% for the first time since 2008.