Fed's Brainard: Economic Outlook Is Bright But Risks Remain

The transcript discusses the potential persistence of inflationary pressures and the importance of monitoring data to guide inflation back to target levels. It emphasizes the commitment to achieving inflation goals by anchoring expectations at 2%. The need for strong economic momentum post-reopening is highlighted, along with the importance of patience to avoid premature tightening of financial conditions. The overall outlook is positive, but patience is crucial as the economy fully reopens and recovery progresses.

What is the significance of anchoring inflation expectations at 2%?

What does the speaker mean by 'remaining patient' during the economic recovery?