Brainard vows to help fight inflation as No. 2 Fed official
WASHINGTON (AP) — Lael Brainard pledged in written remarks Wednesday to help the Federal Reserve fight a spike in inflation while supporting economic recovery — a delicate balancing act it would face if it were confirmed as Fed No. 2 official.
Brainard, a member of the central bank’s board of governors, was named vice president in late November by President Joe Biden, the same day Biden nominated Jerome Powell for a second four-year term as president. As Fed governor since 2014, Brainard has voted on the central bank’s interest rate decisions at its eight policymaking meetings each year, as well as on its financial regulatory policies.