Fed Governor Lisa Cook said she “whole heartedly” supported last week’s 50bps rate cut, emphasizing that it was a reflection of “growing confidence” in Fed’s ability to balance a solid labor market with moderate economic growth.
Cook noted in a speech overnight that the cut aligns with the ongoing progress towards bringing inflation back down to 2% target.
Looking ahead, Cook stressed the importance of “carefully assessing incoming data” and weighing risks as Fed considers further policy actions.
She highlighted the return to balance in the labor market and inflation as a sign of the economy’s “normalization” post-pandemic, adding that such balance is critical to sustaining long-term labor-market strength.
The normalization of inflation is particularly encouraging, Cook added, as it provides the foundation for maintaining a resilient job market. This balance between supply and demand will be central to future Fed decisions.
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