Fed’s Cook wants ‘greater confidence’ inflation is slowing before backing interest-rate cuts

Federal Reserve Gov. Lisa Cook said Thursday that inflation has slowed faster than expected, but central bank officials need “greater confidence” that price pressures are returning to low pre-pandemic norms before cutting interest rates. Cook and a parade of Fed officials in the past few weeks have stressed that the battle against inflation is not over. Rates cut will have to wait a bit longer, she said, until victory is all but assured. “I would like to have greater confidence