Fed Governor Lisa Cook Says Inflation Has Been Too High for Too Long, Vows Return to Target
JH Kim
Summary
- Federal Reserve Governor Lisa Cook said inflation has remained too high for too long.
- Cook said she is committed to bringing price growth back to target while preserving labor-market strength.
- Markets are increasingly betting the Fed will skip an October rate hike after the PCE price index came in softer than expected.
Forecast Trend Report by Period
Federal Reserve Governor Lisa Cook said inflation has stayed too high for too long and reaffirmed her commitment to bringing it back to target while preserving labor-market strength.
Walter Bloomberg reported on October 30 that Cook said, “Inflation has been too high for too long,” reaffirming her commitment to achieving the Fed’s price-stability goal.
Cook did not directly comment on softer-than-expected inflation data released that day or on the Fed’s October interest-rate decision.
Markets are increasingly betting the Fed will skip a rate hike in October after the personal consumption expenditures price index came in cooler than expected.
JH Kim
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