Brainard vows to help combat inflation as No. 2 Fed official

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Lael Brainard pledged in written remarks to help the Federal Reserve fight a spike in inflation while still supporting the economic recovery — a tricky balancing act she would face if confirmed as the Fed’s No. 2 official. Brainard, a member of the central bank’s Board of Governors, was nominated for the vice chair post in late November by President Joe Biden, the same day that Biden nominated Jerome Powell for a second four-year term as chair. As a Fed governor since 2014, Brainard has voted on the central bank’s interest-rate decisions at its eight policymaking meetings each year as well as on its financial regulatory policies.