Federal Reserve Vice Chairwoman Lael Brainard said she expected it would be appropriate for the central bank to raise interest rates by a half percentage point at its meeting later this month and again in July but said it was too soon to say whether the Fed might slow the pace of rate rises after that.
Ms. Brainard said that it was premature to conclude that inflation had peaked and that the next several months of data on price pressures and economic activity would be important in determining whether the Fed continued to raise rates in September by a half percentage point or by the more traditional quarter-point increment.