Fed Vice Chair Lael Brainard Says It's ‘Very Hard to See the Case' for the Fed Pausing Rate Hikes

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Fed Vice Chair Lael Brainard said it’s unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon.

The idea of implementing two more 50 basis point rate increases over the summer then taking a step back in September has been floated by a few officials, most notably Atlanta Fed President Raphael Bostic. Minutes from the May meeting indicated some support for the idea of evaluating where things stand in the fall, but there were no commitments.

In recent days, policymakers including San Francisco Fed President Mary Daly and Governor Christopher Waller have stressed the importance of using the central bank's policy tools aggressively to bring down inflation running around its fastest pace since the early 1980s. "We're certainly going to do what is necessary to bring inflation back down," Brainard said."That's our No. 1 challenge right now. We are starting from a position of strength. The economy has a lot of momentum."


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