A top Federal Reserve official said the central bank will raise rates expeditiously to reduce soaring inflation and expressed confidence in its ability to moderate price pressures without triggering an economic downturn.
“Inflation is too high, and getting inflation down is going to be our most important task,” said Fed governor Lael Brainard, who is awaiting Senate confirmation to serve as the Fed’s vice chairwoman. Ms. Brainard spoke at The Wall Street Journal Jobs Summit as the central bank has telegraphed what could be its most aggressive effort in decades to raise interest rates.
