Lisa Cook

After five years of above target inflation,

I am particularly attuned to the risk that elevated inflation will become embedded in price and wage-setting behavior.

As such, I am prepared to raise rates if the expected disinflation does not appear in a timely manner.

Likewise, I will continue to monitor labor market developments as well and would be prepared to adjust my policy stance downward should the labor market deteriorate.

After five years of above-target inflation,

I am particularly attuned to the risk that elevated inflation will become embedded in price and wage setting behavior.

As such, I am prepared to raise rates if the expected disinflation does not appear in a timely manner.

Likewise, I will continue to monitor labor market developments as well and would be prepared to adjust my policy stance downward should the labor market deteriorate.

I see elevated risks to both sides of our mandate.

And from a risk management perspective, I currently believe that the right course of action is to hold rates steady.

However, I want to be clear about my risk assessment.

The risks remain tilted toward higher inflation, and my baseline forecast, disinflation should resume in upcoming months without having to raise rates.

I see elevated risks to both sides of our mandate.

And from a risk management perspective, I currently believe that the right course of action is to hold rates steady.

However, I want to be clear about my risk assessment.

The risks remain tilted toward higher inflation, and my baseline forecast, disinflation should resume in upcoming months without having to raise rates.

After five years of above target inflation, I am particularly attuned to the risk that elevated inflation will become embedded in price and wage setting behavior.

As such, I am prepared to raise rates.

if the expected disinflation does not appear in a timely manner.

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