Reported 8 months ago
Federal Reserve Governor Lisa Cook stated that a reduction in interest rates will be necessary 'at some point,' predicting a gradual improvement in inflation this year followed by more rapid progress in 2025. She emphasized the importance of monitoring economic data and interpreting their implications for the economic outlook and risk balance while determining the timing of any rate adjustment. Despite a resilient economy and a strong labor market, high mortgage rates have impacted home sales and construction, with increasing delinquencies posing a concern but not alarming the overall economy. Cook pointed out that monetary policy remains restrictive due to elevated interest rates affecting aggregate demand.
Source: YAHOO