FED'S COOK SEES US DATA CONSISTENT WITH SOFT LANDING
Federal Reserve Board Governor Lisa Cook spoke on "Global Inflation and Monetary Policy Challenges" before the 2024 Australian Conference of Economists on late Thursday. Cook said that inflation in the US should continue to fall without a significant further rise in the unemployment rate, per Reuters.
Key quotes
My baseline forecast...is that inflation will continue to move toward target over time, without much further rise in unemployment,
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.
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