Lael Brainard, Joe Biden’s nominee for vice-chair of the Federal Reserve, will tell Congress that the fight against high inflation is the US central bank’s “most important task” in an embrace of the central bank’s pivot towards tighter monetary policy.
“Inflation is too high, and working people around the country are concerned about how far their pay cheques will go,” said Brainard, a Fed governor, in prepared remarks released ahead of her confirmation hearing before the Senate banking committee on Thursday.
“Our monetary policy is focused on getting inflation back down to 2 per cent while sustaining a recovery that includes everyone. This is our most important task”, she added.
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