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Fed's Cook sees US soft landing: lower inflation, no significant jobless rise

Started by forex4you, Jul 11, 2024, 07:43 am

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Fed's Cook sees US soft landing: lower inflation, no significant jobless rise

Federal 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.

--

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

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