Despite gloom on the housing front, declining core inflation and a volatile (and declining) stock market, Fed Gov Lael Brainless still wants to keep raising interest rates.
(Bloomberg) — Federal Reserve Governor Lael Brainard said U.S. economic momentum is strong and a gradual approach to interest-rate increases remains appropriate for now.
“The gradual path of increases in the federal funds rate has served us well by giving us time to assess the effects of policy as we have proceeded,’’ Brainard said Friday at a conference at the Peterson Institute for International Economics in Washington. “That approach remains appropriate in the near term, although the policy path increasingly will depend on how the outlook evolves.”
Party on, Lael. Party on Jerome.