Fed’s Cook says more rate hikes needed to combat inflation

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Federal Reserve Governor Lisa Cook says more interest rate increases will be necessary to wrestle inflation under control. Her remarks Thursday echo several tough speeches by other central bank officials this week. Cook also says she has revised her views on inflation in the past several months and now sees it as more persistent. She says that while real-time, private-sector data is showing signs that inflation could cool in the coming months. But she adds that the Fed should only slow rate hikes when inflation actually falls. Cook’s speech at the Peterson Institute for International Economics was her first as a Fed governor.