U.S. News & World Report:  White House Economic Official Brainard: Inflation on Moderating Path

National Economic Council Director Lael Brainard on Wednesday said the latest U.S. economic data shows that upward price pressures can and are receding without a surge in unemployment that many had feared.

"The economy is defying predictions that inflation wouldn't fall absent significant job destruction," Brainard said at an event held by the Economic Club of New York. "Just today we saw new and encouraging evidence that the economy is on the path to moderate inflation accompanied by a resilient jobs market."

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