Brainard on CNBC:

  • January inflation was a good data point but only one piece of information when a pattern is needed
  • Lots of reasons to think inflation to move higher, there are also troubling signs on inflation
  • Sees a lot of positive developments in domestic economy, including return of workers and strong consumption

I haven't seen the evidence of strong consumptions she's talking about. December retail sales were very soft in a key month.