Cook Vows to Tackle US Inflation Without Weakening Labor Market

US Federal Reserve Board member Lisa Cook has emphasized her commitment to bringing down inflation in the country without weakening the labor market. In a speech at a conference on investment in rural America, Cook stated that inflation remains too high for too long and aims to bring it back to its target level.

Cook's comments came as US inflation rose less than expected in August, with traders forecasting that the Federal Reserve might hold rates steady at its October meeting. New York Federal Reserve Bank President John Williams had earlier suggested there was no urgent need to raise rates again soon after a quarter-point increase in September.

Cook devoted most of her speech to discussing the rural economy, noting that inflation tends to be higher in rural areas while labor force participation is lower. She reaffirmed her commitment to curbing price growth without harming employment.