Fed's Cook sees US soft landing: lower inflation, no significant jobless riseFederal 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.
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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:
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: Fed's Cook sees US soft landing: lower inflation, no significant jobless rise (https://www.forexlive.com/centralbank/feds-cook-sees-us-soft-landing-lower-inflation-no-significant-jobless-rise-20240710/)
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