Director of the Federal Reserve (Fed), Lisa Cook stated this Wednesday, 20, that the core consumer price index (CPI) still at high levels in the United States suggests that the monetary authority still has work to do to do to return inflation to the 2% target in a sustained manner.
In a speech during an event at the University of Virginia, Cook said that the path to combating inflation must be marked by bumps. Even so, the leader demonstrated optimism that the disinflation process should continue in force.
“I remain confident that inflation is evolving sustainably towards our 2% objective, even if the trajectory is occasionally bumpy”, he reinforced.
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For Cook, confidence is supported by signs of moderation in wage growth, relatively low levels of oil prices and the expectation of a cooling in housing services inflation over the next two years.
“My policy decisions will be guided by our dual mandate of maximum employment and stable prices, and I know that meeting these goals will produce the best economic results for all Americans,” he said.
