© Reuters. FILE PHOTO: Shoppers wear protective face mask as they walk down 5th Avenue as new New York State indoor masking mandates went into effect amid the spread of the coronavirus disease (COVID-19) in New York City, New York, U.S., December 13, 2021. REUTERS/M
By Lindsay (NYSE:) Dunsmuir and Ann Saphir
(Reuters) – Federal Reserve Governor Lael Brainard on Thursday became the latest and most senior U.S. central banker to signal that interest rates will rise in March to battle inflation that’s eroding the value of workers’ recent wage gains and putting policymakers under a political spotlight.
The Fed “has projected several rate hikes over the course of the year,” Brainard told the Senate Banking Committee, which is considering her nomination by U.S. President Joe Biden to become the Fed’s vice chair.
“We will be in a position to do that … as soon as our purchases