Fed's Brainard: Ready to start shrinking balance sheet

Lael Brainard, a member of the Board of Governors of the Federal Reserve, recently crossed the wires speaking at University Club, NY, via Reuters, with the key quotes found below:

• Ready to start shrinking balance sheet
• Fed should make clear it’s comfortable with pushing inflation modestly above target
• Should be cautious on rate hikes due to long period of low inflation
• Concerned recent low price readings due to depressed underlying inflation
• Few signs of dangerous financial asset bubbles