Federal Reserve Governor Lisa Cook
- Speech on “Global Inflation and Monetary Policy Challenges” ahead of the 2024 Australian Economists Conference
Cook (via Reuters):
- “My baseline forecast is that the unemployment rate will not rise further and inflation will continue to move toward our target over time.”
- A soft landing is more likely when policy easing begins with inflation already close to target and against a backdrop of relatively solid growth.
- “In the U.S., the picture so far seems consistent with a soft landing, with inflation down significantly from its peak and the labor market gradually cooling but remaining robust.”
As Governor, Cook has a vote at every meeting of the Federal Open Market Committee (FOMC).
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The Fed next meets on July 30-31, and is expected to keep rates on hold, raising the possibility of a rate cut in September. Not everyone agrees.