Fed's Cook: Cooling inflation is her main mission

Ross J Burland FXStreet

Federal Reserve Governor Lisa Cook said "I am committed to promoting sustained economic growth in a context of low and stable inflation," in her statement to be given before the Senate on Wednesday. "As I stated to this committee last year, elevated inflation is a grave threat to sustaining the expansion of the American economy," Cook said, adding "If confirmed, I will stay focused on inflation until our job is done."

Key notes

Elevated inflation is a `grave threat' to US economy.
Focused on inflation ‘until the job is done’.
American economy at ‘critical juncture’.

Fed’s Jefferson also made remarks:

Remain focused on returning inflation to 2%.
Fed must remain attentive to inflation, banking-sector stress.
Geopolitical uncertainty - us banking system is sound & resilient.
US Dollar update

The US Dollar index DXY on Tuesday rose from 102.32 to a high of 102.785 and recovered from early losses posting modest gains. Tuesday’s better-than-expected US housing news was bullish for the US Dollar.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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