Federal Reserve’s Lisa Cook Tells Anchorage Business Crowd She’s ‘Firmly Committed’ to Bringing Down Inflation
Lisa Cook said the Fed is ready to raise borrowing costs if inflation does not keep moving toward its 2% target.
- Federal Reserve Governor Lisa Cook addressed an Economic Outlook Luncheon in Anchorage on Wednesday, stating she is prepared to raise interest rates if inflation fails to subside. Cook warned that high inflation risks becoming "entrenched" and harder to address.
- Although Cook voted to maintain interest rates between 3.5% and 3.75% last week, she noted the PCE price index rose to 3.7% through June, nearly double the Federal Reserve Board's 2% long-term target. This persistent inflation gap justified her hawkish stance.
- High energy costs from The Middle East and corporate spending on AI infrastructure have lifted prices for semiconductors and utilities, shifting risks toward inflation. Cook believes these factors currently outweigh risks to the employment side of the dual mandate.
- Other Fed officials expressed divergent views on policy. Philadelphia Fed President Anna Paulson suggested current rates suffice to curb inflation, while Kashkari argued a "potential series of small policy moves would be better than waiting" for bolder actions.
- Forecasts suggest energy price increases from the war in Iran may decrease by year-end, while Cook expects technology component prices to decline as supply chains normalize. These developments could ease inflation pressures and support her price-stability goals.
11 Articles
11 Articles
Fed’s Lisa Cook ready to hike rates if ‘too high’ inflation stays elevated
Federal Reserve Governor Lisa Cook warned Wednesday that she is prepared to hike interest rates if inflation doesn’t start to cool off – as an increasing number of officials signal a readiness to tighten policy.
Fed Governor Cook Voted Against Hiking Rates. She Clarified She's Ready To Act If Inflation Remains Above Target.
Federal Reserve Governor Lisa Cook said that even though she voted against hiking interest rates, she is ready to do so if inflation does not decrease.
US Fed Governor Lisa Cook Says Prepared to Back Rate Hikes if Inflation Fails to Ease
Get latest articles and stories on Business at LatestLY. US Federal Reserve Governor Lisa Cook has said she is prepared to support higher interest rates if inflation does not begin to move lower, underscoring that restoring price stability remains the central bank's top priority despite signs of resilience in the US economy. Business News | US Fed Governor Lisa Cook Says Prepared to Back Rate Hikes if Inflation Fails to Ease.
Fed's Cook Says Ready to Raise Rates If Inflation Doesn't Cool
Fed's Cook ready to raise rates if inflation doesn't start easing
Federal Reserve Governor Lisa Cook said on Wednesday that she’s open to the idea that the central bank may need to raise its short-term interest rate target to deal with “too high” levels of inflation in the U.S. economy.
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