Lisa Cooka member of the Federal Reserve Board of Governors, said Wednesday that the inflation is still too high even though it has moderatedas reported by Reuters.
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“I am firmly committed to the Fed’s mandates for price stability and employment.”
“The data is telling a pretty clear story of a historically strong labor market, with inflation still high.”
“The Fed is focused on restoring price stability, will need to tighten monetary policy for some time“.
“Without stable prices it will be difficult to maintain maximum employment.”
“The Fed recognizes the benefits that sustained expansion will bring to low- and moderate-income communities.”
“Inflation has severe costs and falls hardest on those who live from hand to mouth.”
“Inflation can be contained without a large increase in unemployment.”
“The trajectory of the unemployment rate may be lower than the most recent Fed forecasts.”
“In times of uncertainty it is important not to take too many signals, more than two or three pieces of information.”
“It is now appropriate to move in smaller steps as the Fed assesses the cumulative impact of rate hikes so far.”
“The Fed will stay the course until inflation is contained“.
“The Fed is starting to see some improvement in the inflation data.”
“We expect inflation to continue to fall this year and next, although progress may be uneven.”
“The path of official interest rates will depend on how quickly inflation moves towards the 2% target.”
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Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.