Economic Club of Miami: Lisa D. Cook Federal Reserve Board Governor, February 4, 2026

Описание: On February 4, 2026, Federal Reserve Governor Lisa D. Cook joined the Economic Club of Miami for a wide-ranging conversation on inflation, the labor market, AI, financial stability, and the Fed’s policy outlook. Governor Cook explains why inflation progress stalled above 2% (including tariff-related goods inflation), why the labor market looks “roughly in balance,” and why the Fed is holding rates steady while staying data-dependent. The discussion also covers consumer sentiment, a “two-speed” economy, commercial real estate risks, stablecoins and regulation, and why the Fed stays focused on its dual mandate.

Learn more about the Economic Club of Miami at: https://www.econclubmiami.org

00:00 — Welcome + Economic Club of Miami intro
01:52 — Introducing Fed Governor Lisa D. Cook
04:09 — Cook’s opening remarks: outlook + dual mandate
06:14 — Inflation update: progress stalled; tariff-driven goods inflation
08:55 — Labor market: unemployment 4.4% + key risks
11:03 — AI: productivity upside vs. job disruption risk
12:09 — Growth outlook + “two-speed / K-shaped” economy
14:02 — Why sentiment is weak despite solid activity
17:36 — Policy stance: hold rates; credibility + data dependence
21:41 — Fireside chat begins with ECOM Founding Chairman Jon Hartley
22:01 — Fed Chair nominee question: Cook declines comment
23:55 — Inflation path: why PCE matters; tariffs as a one-time effect
25:32 — Labor market: stable but can turn quickly
27:39 — Policy stance: “mildly restrictive” + lag effects
29:17 — r* (neutral rate): innovation/AI + long-run view
32:20 — Financial stability: banks + commercial real estate
34:27 — GenAI: labor-augmenting vs. labor-replacing
37:08 — Stablecoins/crypto: regulation + payments innovation
39:56 — Fiscal vs. monetary: “stay in my lane” (dual mandate)
41:33 — Closing remarks + upcoming Economic Club events