Fed's Cook Stresses Inflation Fight Without Labor Market Harm

Federal Reserve Governor Lisa Cook emphasized her commitment to bringing down inflation without harming the labor market in a speech on Wednesday.

Cook made her remarks at a Richmond Fed conference on investing in rural America, held in Asheville, North Carolina. Inflation has been 'too high for too long,' she said, echoing concerns from consumers and businesses alike.

The latest inflation data showed that US inflation increased less than expected in August, leading traders to expect the Fed to skip a rate hike at its October meeting. New York Fed President John Williams had already expressed his view that there was 'no urgency' to deliver another hike.