Fed Governor Lael Brainard:

  • Economic headwinds are shifting to tailwinds
  • There will be “substantial” boost from tax cuts and public spending
  • “In the earlier period, strong headwinds sapped the momentum of the recovery and weighed down the path of policy.
  • “Mounting tailwinds at a time of full employment and above-trend growth tip the balance of considerations.”
  • “With greater confidence in achieving the inflation target, continued gradual increases in the federal funds rate are likely to be appropriate.”

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