Tuesday, January 25, 2022

    Latest Posts

    Lael Brainard states that the fight against inflation is the Fed’s “most important mission.”

    Lael Brainard, nominated for Joe Biden’s Vice-Chairman of the Federal Reserve, joins Parliament High inflation It is the “most important task” of the US Central Bank in accepting the Fed’s pivot towards monetary tightening policies.

    Federal Reserve Governor Brenard said in a statement prior to a confirmation hearing at the Senate Banking Commission on Thursday: “Inflation is so high that workers across the country will go to check. I’m worried about that. ”

    “Our monetary policy focuses on returning inflation to 2% while maintaining a recovery that includes everyone. This is our most important task,” she added.

    Brainard, 60 years old, if confirmed by the Senate Second command After steadily rising the ranks of US economic policymaking, he served on the Federal Reserve Board as Senior Finance Officer on International Affairs under former President Barack Obama and served on the Fed’s Board for nearly eight years.

    Central banks are moving rapidly towards monetary tightening policies after changing their minds about inflation and the risks it poses to economic recovery at the end of last year. At a hearing on Tuesday, Federal Reserve Chairman Jay Powell said that high inflation was “Serious threatFor the labor market and the outlook for long-term economic expansion.

    Brainard is generally considered dovish when it comes to monetary policy, but her testimony suggests that she is participating in a more aggressive approach to combating inflation. During the opening statement, she also cites her international experience to highlight her determination to curb excessive price increases.

    “In some foreign countries, we’ve seen up close how high inflation is hurting workers and their families, especially the most vulnerable,” she says.

    The consumer price index rose 7% year-on-year last month, up from 6.8% registered in November, the highest since June 1982.

    The Federal Reserve Board is already Showed their support For three rising interest rates next year, accelerating the pace at which they end a huge bond-buying stimulus program. The Federal Reserve’s key policy rate “lift-off” is now widely expected in March, with a $ 9 trillion balance sheet cut starting later this year.

    Brainard, especially from Republican lawmakers, led what Tennessee Senator Bill Hagerty described as an “activist group” of Biden’s appointees bystander Powell and imposing a democratic policy agenda on the Federal Reserve. You are expected to face tough questions that you are concerned about doing.

    Brainard tried to dismiss such concerns in her remarks. “I am committed to the independent nonpartisan status of the Federal Reserve. If confirmed, I will carry out the responsibilities assigned to the Federal Reserve and promote transparent communication and accountability to you and the American people. We look forward to helping Chairman Powell in doing so, “she said.

    Brainard generally works with Powell and other members of the Federal Open Market Committee on monetary policy-related issues, but has expressed a clear opinion at the central bank on supervisory issues. ..

    During her tenure at the Federal Reserve, she took a stricter position on Wall Street security than her colleagues and opposed more than 20 votes in favor of a rule change to ease the regulation of the largest financial institutions.

    It received her praise from a progressive Democrat who had been lobbying the Biden administration for months to replace Powell with Brenard.

    Her efforts to strengthen guidelines on how banks serve disadvantaged communities have encouraged the Federal Reserve to more actively incorporate climate-related financial risks into surveillance. It has hurt her reputation among Biden’s party members.

    Lael Brainard states that the fight against inflation is the Fed’s “most important mission.”

    Source link Lael Brainard states that the fight against inflation is the Fed’s “most important mission.”

    The post Lael Brainard states that the fight against inflation is the Fed’s “most important mission.” appeared first on Eminetra.

    Latest Posts

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.