Fed Governor Lisa Cook Says Inflation Has Stayed Too High for Too Long, Vows Return to Target
Summary
- Lisa Cook, a governor at the U.S. Federal Reserve, said inflation has remained too high for too long.
- Cook said she is committed to bringing price growth back to target while preserving strength in the labor market.
- Markets are increasingly expecting the Fed to skip an October rate hike after the personal consumption expenditures (PCE) price index came in softer than expected.
Forecast Trend Report by Period
Lisa Cook, a Federal Reserve governor, said inflation has remained too high for too long and reaffirmed her commitment to bringing it back to target while preserving strength in the labor market.
Walter Bloomberg reported on October 30 that Cook said, "Inflation has remained too high for too long," reiterating her resolve to meet the Fed's price-stability goal.
Cook did not directly address softer-than-expected inflation data released that day or the Fed's October interest-rate decision.
Markets are increasingly expecting the Fed to skip an October rate increase after the personal consumption expenditures, or PCE, price index came in cooler than expected.
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