Lael Brainard, the NEC Director (and former Fed Governor), is on the wires saying:
- June CPI was encouraging
- US labor market is in much better balance than just 6 months ago
- Biggest risk to economy was the threat of debt default, and that has been taken off the table
- New evidence today suggests the US is on a path to more moderate inflation
- Recent nonhousing core services inflation is close to pre-Covid levels
- Liquidity at banks is being managed much better than before
- Says it is important for bank executives to continue to manage risks
Brainard was a former vice chair of the Federal Reserve. She resigned on February 18, 2023.