FILE - Lael Brainard, President Joe Biden's nominee to be Vice Chair of the Federal Reserve, speaks during an event in the South Court Auditorium on the White House complex in Washington on Nov. 22, 2021. The Federal Reserve will need to keep lifting its short-term interest rate to a level that restricts economic growth, and keep it there for an extended period, Fed Vice Chair Brainard said Wednesday, Sept. 7, 2022. (AP Photo/Susan Walsh, File)