The Fed: Fed’s Brainard says economy can handle an interest-rate hike ‘soon’

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Fed Gov. Lael Brainard

The U.S. economy appears to be in transition to a more stable growth path and gradual interest-rate hikes are likely to be appropriate “soon,” said Federal Reserve Gov. Lael Brainard on Wednesday.

“We are closing in on full employment, inflation is moving gradually toward our target, foreign growth is on more solid footing, and risks to the outlook are as close to balanced as they have been in some time,” Brainard said in a speech to the John F. Kennedy School of Government at Harvard University.

Brainard had been reluctant to raise interest rates, saying that there were risks to the U.S.

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