"Most Americans," Cook said, "are not just looking for disinflation" — a slowdown in price increases. "They're looking for deflation. They want these prices to be back where they were before the pandemic. ... I hear that from my family."
Why Americans feel gloomy about the economy despite falling inflation and low unemployment
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“What policy rate is sufficiently restrictive we will only learn over time by watching how the economy evolves,” said Lisa Cook, one of seven members of the Fed's Board of Governors.
Fed raises key rate by half-point and signals more to come
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