Fed/Cook: December Meeting Decisions Will Depend on Upcoming Data

Forex - Federal Reserve Board member Lisa Cook stated that the timing of further interest rate cuts will depend on upcoming data, leaving the decision for the Fed's December meeting uncertain. Speaking at the University of Virginia in Charlottesville, Cook expressed her expectation that the Fed will eventually lower rates beyond the current range of 4.5% to 4.75%, but noted that the timing and magnitude of such cuts are still unclear. Cook remarked, “Looking ahead, I still see the direction of the appropriate policy interest rate path as downward, but the size and timing of rate cuts will depend on incoming data, the evolving outlook, and the risk balance. I do not believe the policy is on a predetermined path and am ready to respond to changing conditions.”