Will the Federal Reserve Support Inclusive Prosperity?
Lael Brainard, one of two female governors on the Fed board, has consistently argued that it is premature to raise interest rates until inflation accelerates and stays high. For groups that have traditionally not done well in downturns – particularly women and people of color – the stakes of the debate could not be higher.
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WASHINGTON, DC – A major debate is in the making – or, more accurately, beginning to be reopened – in the United States about the appropriate objectives and triggers for monetary policy in the modern American economy. The stakes are enormous, including whether prosperity in the US can really become more inclusive – and who should lead the Federal Reserve in 2022 and beyond.