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MNI BRIEF: Cook Says Fed To Fight Inflation Until Job Is Done

(MNI) WASHINGTON

The Federal Reserve will keep up its fight against inflation "until the job is done," Governor Lisa Cook said Friday, echoing a growing FOMC consensus.

“Inflation remains stubbornly and unacceptably high," she said, noting core inflation has been surprisingly strong. Policymakers need to see downward trends in inflation, not just forecasts of falling inflation, she told a bankers' conference in Washington.

“At some point it will become appropriate to slow the pace of increases,” she added. It could take another year for tighter policy and supply-side relief to change inflation dynamics, Atlanta Fed economist Brent Meyer told MNI. (See: MNI INTERVIEW: Entrenched U.S. Inflation To Linger - Meyer)

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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