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Fed's Cook says hopes current policy setting is adequate to settle inflation

Published 11/06/2023, 12:12 PM
Updated 11/06/2023, 12:20 PM
© Reuters. Dr. Lisa DeNell Cook, of Michigan, nominated to be a Member of the Board of Governors of the Federal Reserve System, listens during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., Febru

© Reuters. Dr. Lisa DeNell Cook, of Michigan, nominated to be a Member of the Board of Governors of the Federal Reserve System, listens during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 3, 2022. REUTERS/Ken Cedeno/Pool/File photo

WASHINGTON (Reuters) - Federal Reserve Gov. Lisa Cook said she hopes the central bank's current target interest rate is adequate to return inflation to the Fed's 2% target.

The Fed left interest rates unchanged in a range of from 5.25% to 5.5% at its meeting last week, and "we hope that this will be restrictive enough such that we can return to our 2% target over time," Cook said in comments at Duke University. "But we will continue to be vigilant," to ensure the inflation target is reached.

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