Fed Vice President Lael Brainard it said on Tuesday that going forward it will be very cautious in making predictions and is watching core inflation very carefully, Reuters reported.
Featured Statements:
The Fed’s goal is to reduce inflation while maintaining the economic recovery.
The very high inflation we are seeing is the result of a series of shocks.
A tightening of financial conditions will help moderate demand, particularly in areas such as durable goods.
We are in a period of very high uncertainty.
We saw a moderation in core inflation this month.
Those kinds of developments will give me confidence that we will achieve 2% inflation, but the timetable is not clear.
Today’s economy is determined by a unique set of circumstances.
We still have well-anchored long-term inflation expectations.
That will be of great help to us in the future with inflation.
There is plenty of room for labor demand to moderate by reducing vacancies without the need for layoffs.
Source: Fx Street
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