Lael Brainard, member of the Federal Reserve's Board of Governors, is crossing the wires, noting that a rate hike will likely be appropriate soon, given improved global conditions and continued growth.
Says "constraints" of the past two years, caused by problems from Europe to China, are easing
Says Fed's employment and inflation goals are nearly met, allowing continued gradual pace of rate increases
Says risks to outlook are as balanced as they have been "for some time"
Says still supports plan to retain current size of Fed balance sheet until rates rise more
Says balance sheet policy should be "subordinate" to rate tightening because its impact on the economy is less well understood
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