Fed Official Cook Says Ready to Take Action if Near-Term Inflation Doesn't Cool

According to Financial Times, on July 16, Federal Reserve Governor Beth Cook stated that while there is reason to believe inflation will continue to moderate, risks from tariffs, Middle East conflicts, and AI investment spending could sustain price pressures. She added that waiting for further inflation moderation over a period of time is prudent, but the Fed is prepared to take action if near-term inflation does not cool.
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