Fed Will Fight Inflation for 'As Long as It Takes,' Brainard Says

The transcript discusses the Federal Reserve's strong commitment to reducing inflation, as emphasized by Fed Chair Jay Powell and other officials. It highlights the need for further rate increases and a restrictive monetary policy to achieve inflation targets. The discussion also touches on the potential impact of retail margins on inflation and includes comments from Boston Fed President Susan Collins, who has not yet decided on the rate increase for September. The upcoming CPI report is expected to influence the Fed's decision, with a leaning towards a 75 basis point increase if inflation does not decrease significantly.

How does Susan Collins view the potential rate increase for September?

What does the speaker imply about the decision-making process of the Fed members?