Fed's Brainard (Dove, Voter): expansive fiscal policies could lead to higher inflation, interest rate increases
- Gradual path of rate hikes will be appropriate as long as inflationary pressures are muted
- Risks to domestic economy is closer to being balanced
- Confirms that Fed is likely to raise rates more rapidly if fiscal policy changes quickly to eliminate labor market slack
- Full employment is within reach, could be sustainable with the right policy mix