Name: Lael Brainard

Summary: An Update on the Outlook, Liquidity, and Resilience: "Given weak and decelerating foreign demand, it is critical to carefully protect and preserve the progress we have made here at home through prudent adjustments to the policy path. Tighter financial conditions and softer inflation expectations may pose risks to the downside for inflation and domestic activity. From a risk-management perspective, this argues for patience as the outlook becomes clearer."

Lean: Dovish

Substantially Similar to Prior Statements: No

Statement Date: March 7, 2016

Publication Date: March 7, 2016

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