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Fed Governor Lisa Cook says inflation must return to 2% goal
Cook’s remarks came after August headline and core PCE were reported unchanged from the prior month.
Fed Governor Lisa Cook said she is committed to bringing inflation back to the Fed’s 2% goal while preserving the strength of the labor market, in comments delivered on Wednesday.
FXStreet reports Cook added that inflation has been “too long,” speaking at a conference in North Caroline.
Her remarks came after August headline and core PCE figures were reported unchanged from the previous month, and they generated limited impact on market expectations for further Fed action.
According to FXStreet, money markets were pricing in nearly a 62% chance the Fed keeps rates on hold and a 38% chance of a 25 basis point increase, based on Prime Terminal Fed interest rate probability.