Fed’s Brainard Says Lowering Inflation Is Central Bank’s Key Mission

A Federal Reserve official said the central bank’s top goal is to reduce soaring inflation, and she expressed confidence the central bank can moderate price pressures without triggering an economic downturn.

“Inflation is too high,” said Fed Governor Lael Brainard, who is awaiting Senate confirmation to serve as the Fed’s vice chairwoman. “Getting inflation down is going to be our most important task,” she said, speaking Tuesday at The Wall Street Journal Jobs Summit, as the central bank is raising interest rates as part of its most aggressive effort in decades to curb price pressures.

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