Fed to Continue Tightening, Says Vice Chairwoman

The Federal Reserve will continue its tightening monetary policy, according to the central banks’s Vice Chairwoman Lael Brainard. The goal is to bring inflation back down to its 2% target.

Brainard pointed to falling house prices as evidence that higher interest rates are having their desired effect on the economy. She further noted that measures taken by the central bank take time to work their way through the economy. 

Ms. Brainard is part of the Fed’s inner circle and considered the second highest-ranking policy maker at the central bank, right behind Fed Chairman Jerome Powell.

Her remarks come as concerns about a world-wide recession have increased in recent months.

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