Fed's Cook says she 'wholeheartedly' supported 50bp rate cut

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Fed's Cook says she 'wholeheartedly' supported 50bp rate cut

Federal Reserve Board Governor Lisa Cook speaking on policy and the economy this time:

• Wholeheartedly supported 50 bps rate cut.
• On path of policy, will look carefully at data, outlook, balance of risks.
• Normalization of economy, particularly of inflation, 'quite welcome.'
• Labor market 'solid' but has cooled noticeably; may become more difficult for some to find employment.
• Sees significant easing in inflationary pressure.
• Upside risks to inflation have diminished; downside risks to employment have increased.

Not dropping clues about what tope expect at the nest Federal Open Market Committee (FOMC) meeting though.

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Fed's Cook says she 'wholeheartedly' supported 50bp rate cut

forexlive.com