Fed Chair Lisa Cook: Inflation Lags on Path to 2% Target, Maintains鹰派 Stance Until Stable

Fed Chair Lisa Cook warned inflation’s deceleration has stagnated, with core PCE near 3% and personal consumption expenditure (PCE) rising 2.9% in December 2025. Policy must remain hawkish until inflation stabilizes at 2%, with risks tilted upward due to persistently high prices and potential for inflation expectations to firm. She defended the FOMC’s decision to keep policy rates unchanged, noting current rates are only “moderately restrictive.” Market focus shifts to whether inflation can重回 2% and whether expectations become entrenched. Separate from policy, Cook faces ongoing legal proceedings following a presidential effort to remove her via unverified mortgage fraud allegations, which were recently dismissed by federal and appellate courts. She will continue her duties without commenting further.