Economics

Fed vice chair Brainard warns on inflation, financial stability risks

Policymaker says officials are monitoring financial market turbulence as global interest rates rise rapidly

A senior Federal Reserve official said the central bank was attentive to financial tremors that could result from aggressive interest rate rises across the globe, but said it wouldn’t pull back prematurely on its efforts to beat high inflation.

Fed vice chair Lael Brainard also warned that additional unforeseen developments could drive prices higher, extending a pattern where inflation accelerates despite forecasts that it has peaked.

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