(Reuters) – Federal Reserve (Fed) Governor Lael Brainard on Thursday expressed confidence in the U.S. central bank’s ability to rein in rising inflation, which is currently more than double the government’s target. ‘institution.
“We are taking steps on the monetary policy front which I am confident will reduce inflation while continuing to allow the labor market to return to full strength over time,” she said.
Lael Brainard was speaking before the Senate Banking Committee as part of the confirmation process for his nomination as Fed vice-chairman.
In her statement prepared for the hearing, she said the day before that controlling inflation, which has reached a peak in the United States in four decades, was the “most important” mission facing the Fed.
Consumer prices in the United States increased in December by 7% year on year, the fastest rate since June 1982, while prices excluding energy and food products, known as core inflation (“core CPI”), increased by 5.5%, the highest level since February 1991.
The Fed wants to bring inflation back to 2%.
(Report Dan Burns; French version Claude Chendjou, told by Sophie Louet)