Fed Governor Brainard to speak next. Here’s what she said earlier this month

Brainard will speak at 1430 GMT (10:30 am ET)

Fed Governor Lael Brainard will speak at a Fed conference on Disparities in the Labor Market at the bottom of the hour.

Brainard is a dove but tends to be a swing vote at the FOMC. At this point, she’s unlikely to tip her hand on the October or December FOMC but she’s generally not shy to share her thoughts. There is no scheduled Q&A after the comments.

She last spoke on Sept 5 and said it may be prudent to raise rates more gradually than median forecast. Brainard also talked about signaling tolerance for above-target inflation at the time.

More highlights:

  • should be cautious on rate hikes given long period of low inflation
  • Fed should make it clear it is comfortable with pushing inflation «modestly above target for a time»
  • inflation «well short» of objective
  • should assess inflation data closely and be confident before raising rates

If the headlines today sound similar, expect the initial reaction in the dollar to be lower.
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