Federal Reserve Commissioner Cook: If inflation doesn't slow down soon, be ready to take action

On 16 July, Federal Reserve Commissioner Cook indicated that it would be wise to wait for a period of slowdown, but that if inflation did not slow quickly, action was ready. “I think that more time should be allowed from now on to observe how inflation develops. In the future, however, I still believe that the risk is still concentrated on rising inflation, owing to the investment boom in artificial intelligence, customs duties, and price pressures resulting from the Iranian war. If we cannot see signs of a slowdown in inflation soon, I am ready to act. I am fully committed to our inflation target, and this commitment remains firm.” Cook compared the current situation with that of a year ago, when inflation was well above the Federal Reserve ' s target of 2 per cent, while the job market appeared to be stable, but there was a risk of a slowdown in the job market and inflation. “I note that the balance of risk has changed significantly compared to about a year ago and that the risk of inflation now exceeds the risk of employment.” She indicated。