The Fed’s preferred inflation measure remains stubbornly high
The Fed has lifted interest rates five times this year, including three unusually large three-quarter-point increases, and Brainard reiterated that it would need to restrict the economy for some time to make sure inflation was back under control. But she also emphasized that future rate increases would depend on incoming data, suggesting that the Fed will keep an eye on the economy as it slows down and calibrate its moves accordingly.