U.S. Federal Reserve Vice Chair Lael Brainard said the central bank should soon moderate the size of its interest-rate increases, signaling she favors slowing to a half-point hike as early as next month.
Federal Reserve Vice Chair Lael Brainard said the central bank should soon moderate the size of its interest-rate increases, signaling she favors slowing to a half-point hike as early as next month.
At the same time, Brainard stopped short of explicitly endorsing the idea that the Fed would likely need to raise rates higher than previously projected in September. That’s what Chair Jerome Powell and other officials have said this month. Investors expect Fed officials to opt for a half-point hike at their Dec. 13-14 meeting following Powell’s signal on Nov. 2 that such a downshift was in the offing, and a subsequent Labor Department report last week which showed increases in U.S. consumer prices may be starting to moderate.
“The most recent CPI inflation print suggests that maybe the core PCE measure that we really focus on might be also showing a little bit of a reduction,” Brainard said. “That would be welcome. I think the inflation data was reassuring, preliminarily, just in terms of showing a slowing in categories that I had been anticipating.”
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