US NEC Director Brainard (and former Fed Governor): CPI data was encouraging

Lael Brainard, the NEC Director (and former Fed Governor), is on the wires saying:

• June CPI was encouraging
• US labor market is in much better balance than just 6 months ago
• Biggest risk to economy was the threat of debt default, and that has been taken off the table
• New evidence today suggests the US is on a path to more moderate inflation
• Recent nonhousing core services inflation is close to pre-Covid levels
• Liquidity at banks is being managed much better than before
• Says it is important for bank executives to continue to manage risks

Brainard was a former vice chair of the Federal Reserve. She resigned on February 18, 2023.