Fed’s Brainard: Inflation control is Fed's most important task
|Fed Board of Governors’ member and incoming Vice Chairman of the FOMC Lael Brainard recently crossed wires, via Reuters, while saying, “Returning inflation to the 2% target is the ‘most important task’ facing the US central bank.” The FOMC member said in remarks prepared for delivery on Thursday to a Senate panel considering her for promotion to the vice-chair position, per Reuters.
Key quotes
Our monetary policy is focused on getting inflation back down while sustaining recovery that includes everyone.
Economy is making 'welcome progress,' pandemic continues to pose challenges.
Our priority is to protect gains we've made, support full recovery.
Committed to pursuing fed's two goals of price stability, maximum employment.
Committed to independent, nonpartisan status of Fed.
Will support policies that are in the interests of the American people.
FX reaction
Following the news, AUD/USD prices pause near the two-month high around 0.7290 after rising the most since late November 2021.
Read: AUD/USD battles 100-DMA on the way to 0.7300 amid broad USD weakness
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.