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Today: January 22, 2025
Today: January 22, 2025

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

U.S. Senate Banking Committee holds hearing for Federal Reserve nominees on Capitol Hill in Washington
April 26, 2024
Reuters - Reuters

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.

(Reporting by Howard Schneider)

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