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MNI: Fed's Cook Sees Rate Cuts 'At Some Point'

Inflation and labor market indicators should continue to cool gradually, Federal Reserve Governor Lisa Cook says.

The Federal Reserve will lower interest rates "at some point" as long as inflation continues to slow and the labor market cools gradually, Fed Governor Lisa Cook said Tuesday.

"I believe that our current policy is well positioned to respond as needed to any changes in the economic outlook. With significant progress on inflation and the labor market cooling gradually, at some point it will be appropriate to reduce the level of policy restriction to maintain a healthy balance in the economy," she said in remarks prepared for the Economic Club of New York. But persistently high inflation or a sharp weakening in the job market would call for different policy responses, she said.

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The Federal Reserve will lower interest rates "at some point" as long as inflation continues to slow and the labor market cools gradually, Fed Governor Lisa Cook said Tuesday.

"I believe that our current policy is well positioned to respond as needed to any changes in the economic outlook. With significant progress on inflation and the labor market cooling gradually, at some point it will be appropriate to reduce the level of policy restriction to maintain a healthy balance in the economy," she said in remarks prepared for the Economic Club of New York. But persistently high inflation or a sharp weakening in the job market would call for different policy responses, she said.

Keep reading...Show less