Cook: inflation has exceeded 2 percent for more than five years
Federal Reserve Governor Lisa Cook, in prepared remarks at the Richmond Fed's Investing in Rural America conference in Asheville on September 30, said inflation has been too high for too long and has exceeded the Fed's 2 percent target for more than five years. She voted with the rest of the FOMC for a 25 basis-point increase at the September meeting and said she is committed to returning inflation to the objective while preserving strength in the labor market. The speech's rural section cited 4.3 million rural small businesses employing 7.4 million people, and home-value gains of 36 percent in nonmetro and lower-density areas versus 21 percent in the densest urban counties from March 2020 to March 2023.
- September FOMC rate increase
- +25 bp
- Rural small businesses
- 4,300,000
- Rural small-business employment
- 7,400,000
- Nonmetro and lower-density home-value change, March 2020 to March 2023
- 36%
- Densest urban counties home-value change, March 2020 to March 2023
- 21%
Source: The Dual Mandate in Rural America, remarks by Governor Lisa D. Cook — Board of Governors of the Federal Reserve System.
all 5 figures found at the source
- found September FOMC rate increase = +25 bp — at Board of Governors of the Federal Reserve System
- found Rural small businesses = 4,300,000 — at Board of Governors of the Federal Reserve System
- found Rural small-business employment = 7,400,000 — at Board of Governors of the Federal Reserve System
- found Nonmetro and lower-density home-value change, March 2020 to March 2023 = 36% — at Board of Governors of the Federal Reserve System
- found Densest urban counties home-value change, March 2020 to March 2023 = 21% — at Board of Governors of the Federal Reserve System
This page is one print. The daily brief for September 30, 2026 is the editor's cut of what mattered that day. Figures are as the named sources printed them. The methodology says how this page is made and what is checked.