Federal Reserve Governor Cook said Wednesday that it is sensible to wait for inflation to cool for a period of time, but the central bank is prepared to act if that does not happen soon. She said policymakers should allow more time to see how inflation develops, while adding that the main risks ahead still lean toward higher inflation. Cook cited price pressure tied to the AI investment boom, tariffs and the war in Iran. She also said the Federal Reserve remains fully committed to achieving its inflation goal. Compared with about a year ago, the balance of risks has shifted materially, in her view, with inflation risks now outweighing risks tied to employment.
Federal Reserve Governor Cook said Wednesday that waiting for inflation to slow for a period of time is a sensible approach, but the Fed is prepared to act if inflation does not ease soon.
Cook said policymakers should give inflation more time and watch how it develops. At the same time, she said the main risks ahead are still tilted toward rising inflation, pointing to price pressure from the AI investment boom, tariffs and the war in Iran.
She also said the Federal Reserve is fully committed to meeting its inflation target. Compared with about a year ago, Cook said, the balance of risks has changed significantly, and inflation risk now exceeds employment risk.
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