The Federal Reserve Jerome Powell seat and Fed Governor Lael Brainard on Monday, both of them recorded a high inflation corrosive impact on the economy of the United States and the American family in what might be a signal that controlling high speed price increases is now the highlight of the priority central bank.
In a brief comment after Powell’s nomination by President Joe Biden to the second term as the Head of the Fed and Brainard nominations as the Fed representative, each emphasized their awareness of how to damage inflation.
“We know that high inflation requires victims for families, especially those who are less able to meet higher costs than essence, such as food, housing and transportation,” Powell said in comments with Biden and Brainard.
“We will use our tools both to support the economy – a strong labor market – and to prevent inflation higher than being entrenched.”