MNI BRIEF: Fed's Cook Very Attentive To Labor Risks
Federal Reserve Governor Lisa Cook on Wednesday said the U.S. economy appears to be poised for a soft landing with continued disinflation, but is keeping a close eye on the labor market.
"We are very attentive to what's happening in the in the unemployment rate, because there could be nonlinearities in these data, and the situation can change very quickly, and we would be responsive to changing conditions," she said in Q&A at an event in Adelaide, Australia. Cook maintained the labor market is "robust" and economic activity is "moving along" and continues to grow this year.
"I think we are moving in a direction that is disinflationary," Cook said. The Fed's policy rate is "appropriate" and "relatively restrictive," she added. (See: MNI INTERVIEW: Fed Will Stay Patient On Rocky Road To 2%-Evans)