Off The Wire
Fed's Brainard says economy remains far from goals for employment and inflation
(Reuters) - The U.S. economy remains far from the Federal Reserve’s goals for employment and inflation and monetary policy will continue to provide support until further progress has been made, Fed Governor Lael Brainard said on Wednesday.
“Today the economy remains far from our goals in terms of both employment and inflation, and it will take some time to achieve substantial further progress,” she said in a remarks prepared for a lecture at Harvard University. Brainard noted that the recovery is playing out unevenly for different groups of workers, sectors and parts of the country, leading to a “K-shaped” recovery.
Reporting by Jonnelle Marte; Editing by Chizu Nomiyama