Fed governor warns economy may slow, urges more support

Federal Reserve Governor Lael Brainard warned that the U.S. economy appears to be slowing after an initial burst of recovery and called for the Fed to take aggressive steps to spur growth. Brainard said hiring and consumer spending bounced back better than expected in May and June but ongoing U.S. spikes in viral infections could reverse that progress. Brainard is an influential “dove” on the Fed’s board and typically prioritizes keeping interest rates low to support jobs, worrying less about inflation.