Fed’s Cook says she ‘wholeheartedly’ supported 50bp rate cut

Federal Reserve Board Governor Lisa Cook

• Wholeheartedly supported 50 bps rate cut.
• On path of policy, will look carefully at data, outlook, balance of risks.
• Normalization of economy, particularly of inflation, ‘quite welcome.’
• Labor market ‘solid’ but has cooled noticeably; may become more difficult for some to find employment.
• Sees significant easing in inflationary pressure.
• Upside risks to inflation have diminished; downside risks to employment have increased.

This article was written by Eamonn Sheridan at www.forexlive.com.