Fed member cautions on September rate hike

Several Fed officials have recently said a hike should be considered in September, in a bid to boost inflation. Brainard, who has consistently voted against an increase, said during a speech in Chicago a rise this month could put the US economic recovery in jeopardy and exceeded the risk that higher rates would increase inflation, according to BBC News. She said economic weakness "counsels prudence" and the committee should await "material further progress" in the labour market before going ahead with a raise. "In the presence of uncertainty and the absence of accelerating inflatio...