Washington
\n \u00a0\u2014\u00a0<\/p>\n
\n Interest rates are in a good place to deal with persistently elevated inflation, Federal Reserve Governor Lisa Cook said Monday in her first public remarks since President Donald Trump said he had fired her.<\/a>\n <\/p>\n \n Cook, appointed by former President Joe Biden and the first Black woman to serve as a Fed governor, is the first central bank official to ever be subject to a firing attempt. In a letter announcing her removal, Trump cited allegations of mortgage fraud, which still haven\u2019t been taken to court. Cook sued Trump shortly afterwards, in what has become a landmark case on presidential power and Fed independence<\/a> that will be decided next year by the Supreme Court.\n <\/p>\n \n The court ruled that Cook can remain in her role for now<\/a>, and has scheduled oral arguments in January. Cook said Monday she is \u201cbeyond grateful\u201d for the support she\u2019s received in her legal battle with the Trump administration, but didn\u2019t comment further on the topic.\n <\/p>\n \n Cook has voted to lower interest rates in the past two Fed meetings, but hadn\u2019t commented publicly on the economy since before Trump said in August that he fired her. Fed officials routinely participate in public events to lay out their views on the economy in the spirit of transparency and helping investors understand the direction of monetary policy.\n <\/p>\n \n In prepared remarks for an event in Washington, DC, Cook offered a balanced perspective on the US economy, detailing the twin threat to the central bank\u2019s dual mandate of stable prices and full employment.\n <\/p>\n \n She pointed to signs of strain in the labor market, such as rising Black unemployment, but suggested there\u2019s more urgency to finish the job on inflation than to lower rates further to prevent mass layoffs.\n <\/p>\n \n \u201cLet me be clear. I am committed to reaching our 2% inflation target,\u201d she said. \u201cI see the current policy rate as remaining modestly restrictive, which is appropriate given that inflation remains somewhat above our 2% target.\u201d\n <\/p>\n \n Cook\u2019s latest comments come at a time when Fed policymakers are divided<\/a> on how Trump\u2019s economic policies might impact prices, employment and economic growth.\n <\/p>\n