Fed Governor Lisa Cook said in a speech that the US economy is in a “good position”. She remains “confident” that inflation is moving sustainably toward Fed’s 2% objective, while acknowledging that the path may be “occasionally bumpy.” Cook observed that employment risks are weighted to the downside but have “diminished somewhat” in recent months.
Cook reiterated that the direction for monetary policy remains “downward” but stressed that the “magnitude and timing of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”
Highlighting the need for flexibility, she emphasized that monetary policy is not on a “preset course” and that she is prepared to respond to changing conditions.
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