Fed's Brainard: Fed Strongly Committed to Actions That Will Achieve Mandates
By Michael S. Derby
Federal Reserve Governor Lael Brainard said Wednesday the U.S.
central bank will continue to support the economy's recovery with
aggressive policy actions for some time to come.
"We are strongly committed to achieving our maximum-employment
and average inflation goals" and "it is too early to say how long
it will take" to do that, Ms. Brainard said in the text of a speech
prepared for a virtual appearance.
"The economy is far away from our goals in terms of both
employment and inflation, and even under an optimistic outlook, it
will take time to achieve substantial further progress" on getting
hiring and inflation back to desired levels, Ms. Brainard said.
Given that outlook, "I expect that the current pace of purchases
will remain appropriate for quite some time," she said, while
noting that central bank policy will adjust its actions based on
how the economy performs.
Ms. Brainard's remarks laid out her view on a key question now
facing central bankers. With the economy recovering and vaccines
coming on line to help put an end to the coronavirus pandemic, it
has raised questions about the outlook for monetary policy.
Write to Michael S. Derby at email@example.com
(END) Dow Jones Newswires
January 13, 2021 13:14 ET (18:14 GMT)
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