Fed Governor Cook Says Inflation Remains Too High, Ready to Raise Rates if Needed

Federal Reserve Governor Lisa D. Cook told an audience on August 5 that inflation is still too high and that she stands ready to support higher interest rates if progress toward the central bank’s 2 percent target stalls. Cook described the U.S. economy as resilient and growing at a solid pace. She noted that inflation has stayed above the Federal Open Market Committee’s goal for more than five…