Brainard: Fed Must Move from Stabilization to Accommodation

The United States Federal Reserve must shift its policy in the coming months to provide the needed support to the economy amid the COVID-19 pandemic, the Fed Administrative Governor, Lael Brainard, said on Tuesday, as reported by Reuters.

“It will be important to provide the requisite accommodation to achieve maximum employment and average inflation of 2% over time.”

“With the recovery likely to face COVID-19-related headwinds for some time, in the coming months, it will be important for monetary policy to pivot from stabilization to accommodation.”