Fed’s Brainard: In future recessions, could signal that rates at zero-level until inflation above target

Comments from Brainard
– Could better time rate hikes after future recessions by committing to keep rates at zero until inflation is above target
– Temporary price-level targeting approach could guard against premature liftoff, help keep inflation expectations anchored
Brainard was responding to a Bernanke policy on price-level targeting and said her comments weren’t intended to address the