Fed's Brainard: Another U.S. rate hike likely appropriate soon

Fed Governor Lael Brainard crossed the wires, via Reuters, saying that another U.S. rate hike would be appropriate soon.

Key quotes (via Reuters):

• May want to delay rate hikes if inflation continues to slow
• Lack of progress on inflation goal 'a source of concern'
• Expect to begin shrinking bond portfolio 'before too long', perhaps this year
• 'Autopilot' approach to shedding bonds would avoid market 'spikes'
• Backing gradual increases in bond run-off of both Treasuries, MBS
• Balance sheet should be subordinate policy tool to rates