Cook comments:
- spike in inflation we are seeing today threatens to heighten inflation expectations
- Fed must ensure inflation declines to levels consistent with its goals
- adherence to Fed's goals will ground inflation expectations
- Fed must also pay careful attention to safety and soundness of banks, financial system stability
Cook comments are on the same sheet other Fed officials are singing from.
ps. Nominee Jefferson (Davidson College professor and economist Philip Jefferson) has reportedly made the same "spike in inflation we are seeing today threatens to heighten inflation expectations" comment.
