Fed focused on addressing ‘much too high’ inflation: Cook

Federal Reserve Governor Lisa Cook on Tuesday said the U.S. central bank is focused on addressing inflation that is “much too high”, and businesses and elected officials may be better able to address issues of disparity in the labor market.

“Monetary policy is, as we all know, a blunt instrument,” Cook said at a Bank of Canada event on diversity, equity and inclusion in economics, finance and central banking. “The focus for the Federal Reserve is on addressing inflation, and we want a sustainable, strong labor market.”