(Reuters) – Calling excessive inflation the Federal Reserve’s “primary problem,” Vice Chair Lael Brainard on Thursday stated she backs at the very least a pair extra half-point rate of interest hikes, with extra on faucet if worth pressures fail to chill.

“Market pricing for 50 bps doubtlessly in June and July…looks like an inexpensive path,” Brainard advised CNBC. September is much less clear, she stated. “But when we don’t see the sort of  deceleration in month-to-month inflation prints…then it’d effectively be acceptable to have one other assembly the place we proceed on the identical tempo.”

The Fed has raised rates of interest by three quarters of a proportion level this yr, and most Fed policymakers again elevating rates of interest one other half of a proportion level at every of their subsequent two conferences. Atlanta Fed President Raphael Bostic has prompt that by September the Fed must pause to evaluate the state of the financial system earlier than tightening coverage additional.

Brainard stated that is unlikely.

“Proper now it’s very laborious to see the case for a pause,” she advised CNBC. “We have nonetheless received quite a lot of work to do to get inflation all the way down to our 2% goal.”

Brainard is often seen as among the many Fed’s extra dovish members, however in her new position because the Fed’s vice chair – she was sworn in final month – her remarks are higher seen as conveying the view of the core Fed management.

Policymakers subsequent meet in mid-June, and this week is the final the place they’re free to talk publicly earlier than their common pre-meeting communications blackout.

“We’re actually going to do what is important to deliver inflation again down,” Brainard stated on Thursday. “That’s our primary problem proper now. We’re ranging from a place of energy, the financial system has quite a lot of momentum.”