Federal Reserve Board Governor Lisa Cook
speaking on “Global Inflation and Monetary Policy Challenges” before the 2024 Australian Conference of Economists
Cook (info via Reuters):
“My baseline forecast…is that inflation will continue to
move toward target over time, without much further rise in
unemployment,”soft landings are “more likely when policy easing began with
inflation already close to target and when there was a
relatively firm growth backdrop” “In the U.S., what I
have seen so far appears to be consistent with a soft landing:
Inflation has fallen significantly from its peak, and the labor
market has gradually cooled but remains strong.”
As a Governor of the Bank Cook has a vote at every Federal Open Market Committee (FOMC) meeting.
—
The Fed next meets on July 30-31. On hold is expected, with the chance of a September rate cut firming up. Not everyone agrees:
“Fed has no business lowering rates now … lost touch with economic reality”Goldman Sachs on US, “absolutely a soft landing”, Fed rate cut cycle to begin in September
This article was written by Eamonn Sheridan at www.forexlive.com.
