US Federal Reserve (Fed) Vice President Candidate Lael Brainard said that reducing inflation is their most important task.
The Fed has published the text of the speech that Lael Brainard will make as part of her candidacy for Fed Vice Chairmanship.
Brainard noted that the US economy is growing. Pointing out that unemployment decreased by 2.8 points last year, she reported that the growth is estimated to be around 5.5 percent.
“Inflation is so high, and working people across the country are worried about how far their wages will go. Our monetary policy is focused on reducing inflation to 2 percent while continuing an all-encompassing recovery. That’s our most important mission,” Brainard said.
She stated that the economy is progressing as desired today but that the epidemic poses challenges.