Fed May Slow Pace of Rate Hikes Soon: Brainard
The Federal Reserve will likely soon slow its interest rates hikes, Fed Vice Chair Lael Brainard signaled on Monday, as the U.S. central bank tries to figure out how high borrowing costs need to go and how long they should stay there to bring down inflation.
“I think it will probably be appropriate soon to move to a slower pace of increases, but I think what’s really important to emphasize is … we have additional work to do,” Brainard said in an interview with Bloomberg in Washington.
“It’s really going to be an exercise on watching the data carefully and trying to assess how much restraint there is and how much additional restraint is going to be necessary, and sustained for how long, and those are the kinds of judgments that lie ahead for us,” she said….