Federal Reserve Board Governor Lisa Cook speaking on policy and the economy this time:
- 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.
Not dropping clues about what tope expect at the nest Federal Open Market Committee (FOMC) meeting though.
