Three names nominated for key roles at the Fed signaled that tackling inflation would be their priority.
Three men, two of whom are current Fed members and candidates for key roles at the Federal Reserve, have said that stopping inflation will be their top priority if appointed.
Governor Philip Jefferson, who was selected by US President Joe Biden to serve as Fed Vice Chairman, said the US economy is facing many challenges, including inflation and bank stress. “Inflation has begun to slow down and I remain focused on getting it back to our 2% target,” the Fed text of Jefferson’s speech to the Senate today read, released Tuesday.
Adriana Kugler, who was nominated by Biden for the seat vacated by Lael Brainard earlier this year, said: “If my role is approved, I will be deeply committed to pursuing a monetary policy that will reduce inflation and promote maximum employment, and increase the resilience of the financial sector by creating jobs and supporting economic growth.”
Governor Lisa Cook, who was nominated for a 14-year term, also stated that she will “continue to focus on the inflation problem until it is resolved”. The U.S. Senate Banking Committee will consider Jefferson, Cook, and Kugler’s Fed roles in a joint session today.