Fed's Brainard hints at aggressive policy tightening as inflation roars

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Fed's Brainard hints at aggressive policy tightening as inflation roars
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Federal Reserve Governor Lael Brainard suggested on Tuesday that central bank policymakers could soon move aggressively to tighten policy as it seeks to cool red-hot inflation.

Governor Lael Brainard suggested on Tuesday that central bank policymakers could soon move aggressively to tighten policy as it seeks to cool red-hot inflation.

Lael Brainard, Federal Reserve governor and President Bidens nominee to be the new vice-chair of the Federal Reserve, is sworn in during her nomination hearing with the Senate Banking Committee on Capitol Hill January 13, 2022 in Washington, DC.Jerome Powell Brainard, a so-called dove who typically favors easier monetary policy, said Tuesday that officials could begin to rapidly reduce the Fed's nearly $9 trillion balance sheet as soon as May in order to combat soaring prices. She also left the door open to a "series of interest rate increases."

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