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MNI: Cook Says Prudent For Fed To Move In Smaller Steps

(MNI) WASHINGTON

Fed Governor Lisa Cook says there is good news emerging on services prices.

Federal Reserve Governor Lisa Cook said Wednesday it would be prudent for the central bank to start moving in smaller steps, given the monetary tightening already in the pipeline and that policy works with long lags.

While "inflation remains much too high" and the Fed must continue to focus on bringing inflation back down to the 2% target, Cook says: "We have begun to see some improvement in the inflation data."

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Federal Reserve Governor Lisa Cook said Wednesday it would be prudent for the central bank to start moving in smaller steps, given the monetary tightening already in the pipeline and that policy works with long lags.

While "inflation remains much too high" and the Fed must continue to focus on bringing inflation back down to the 2% target, Cook says: "We have begun to see some improvement in the inflation data."

Keep reading...Show less