Fed Governor Lisa Cook Says She ‘Wholeheartedly’ Backed Half-Point Rate Cut
- Cook says strength of US labor market can be sustained
- Cook also comments on AI’s potential to boost productivity
This article is for subscribers only.
Federal Reserve Governor Lisa Cook said she “wholeheartedly” supported the central bank’s move last week to cut interest rates by a half percentage point, citing a slowing labor market and easing inflation.
“That decision reflected growing confidence that, with an appropriate recalibration of our policy stance, the solid labor market can be maintained in a context of moderate economic growth and inflation continuing to move sustainably down to our target,” Cook said Thursday in remarks at Ohio State University.