Cook Vows to Tame Inflation Amid Stagnant PCE Figures

Fed Governor Lisa Cook emphasized her commitment to bringing inflation back down to the central bank's 2% target while maintaining a strong labor market. In a recent conference in North Carolina, Cook stated that 'inflation has been too long.' The comments came after the release of August's headline and core PCE figures, which remained unchanged from the previous month.

The remarks had little impact on market expectations for interest rate hikes by the Federal Reserve. According to Prime Terminal, there is a nearly 62% chance that rates will be kept steady, with a 38% chance of a 25-basis-point increase.