Fed's Cook says hopes current policy setting is adequate to settle inflation

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Murphy's Logic and reflections on 45+ years of broadcasting | SaltWireWASHINGTON - Federal Reserve Gov. Lisa Cook said she hopes the central bank's current target interest rate is adequate to return inflation to the Fed's 2% target.

The Fed left interest rates unchanged in a range of from 5.25% to 5.5% at its meeting last week, and"we hope that this will be restrictive enough such that we can return to our 2% target over time," Cook said in comments at Duke University."But we will continue to be vigilant," to ensure the inflation target is reached.

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