Cook stresses rate caution, plus new Treasury sanctions

Federal Reserve Gov. Lisa Cook told an audience at Harvard University this morning that the U.S. central bank should still move cautiously before cutting interest rates.

The remarks acknowledged the success so far of the American economy’s recovery from the pandemic, with Cook noting that employment and inflation rates “are moving into better balance.”

“Nonetheless,” Cook said, “fully restoring price stability may take a cautious approach to easing monetary policy over time.”