US Federal Reserve Governor Lael Brainard attends a "Fed Listens" event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019.
Eric Baradat | AFP | Getty Images
- Lael Brainard's unsubtle switch to deal with the 5% wage gain versus 9% inflation versus no slowdown. The Federal Reserve Governor gave a hawkish speech Tuesday, leading us at the Club to believe we must get more conservative and protect ourselves from what could be more declines. Daily inflation running at a 40-year high is as harmful as not having a job. Market expectations are for rate increases at each of the remaining six meetings this year, possibly totaling 2.5 percentage points overall.