Fed’s Cook Says Labor Market Concerns Outweigh Inflation Risk

Federal Reserve Governor Lisa Cook said she sees the risk of further labor-market weakness as greater than the risk that inflation will pick up, but stopped short of endorsing another interest-rate cut next month.

“Looking ahead, policy is not on a predetermined path. We are at a moment when risks to both sides of the dual mandate are elevated,” Cook said Monday at a Brookings Institution event in Washington. “Every meeting, including December’s, is a live meeting.”

Her comments echoed earlier remarks on Monday from two of her colleagues who were equally non-committal about whether the central bank should deliver ...