PRIMER - Today’s Fedspeak includes Cook, Jefferson, Goolsbee
Importance
Level 1
- 20:55BST/15:55EDT: Fed’s Cook (voter) speaks at Stanford University. Speaking earlier this month, Cook said tokenisation should be viewed as a complement to traditional financial infrastructure rather than a replacement, and cautioned that scaling tokenisation could introduce financial stability risks. Cook has not spoken directly on monpol recently; in March, she said that the Iran war had shifted the balance of risks more towards inflation, adding to headwinds already created by tariffs; she described the labour market as in balance but “precariously so.”
- 01:00BST/20:00EDT: Fed’s Vice Chair Jefferson (voter) takes part in monetary policy panel discussion. Speaking last month, Jefferson said the Iran war would push US inflation higher in the near term but described the current policy stance as appropriately positioned. He cautioned that persistent uncertainty risked dampening hiring, and flagged the private credit sector as an area warranting close monitoring given it has not been tested through a full credit cycle.
- 03:25BST/22:25EDT: Fed’s Goolsbee (2027 voter) takes part in monetary policy panel discussion. Speaking earlier this month, Goolsbee said the US labour market remained stable following April hiring data, though inflation had been moving in the wrong direction and the extent of further price pressures was unclear.