Federal Reserve Governor COOK said on Wednesday at a Stanford event that inf is moving in the wrong direction and, if that persists, she is prepared to raise interest rates. She said she currently leans toward leaving borrowing costs unchanged and expects price growth to cool again over the coming months, but her remarks align her with many Fed officials who see accelerating inf as a bigger policy concern than the labor market. COOK said: “I want to be clear about my risk assessment: risks still

Federal Reserve Governor COOK said on Wednesday at a Stanford event that inf is moving in the wrong direction and, if that persists, she is prepared to raise interest rates. She said she currently leans toward leaving borrowing costs unchanged and expects price growth to cool again over the coming months, but her remarks align her with many Fed officials who see accelerating inf as a bigger policy concern than the labor market. COOK said: “I want to be clear about my risk assessment: risks still tilt to higher inf.” She warned five years of inf above the Fed’s 2% target has increased the risk that price pressures become embedded in price- and wage-setting behavior, and said: “Therefore, if the expected process of disinflation does not occur in time, I am prepared to raise rates.”