macroboltSpecial Coverage

Cook Confirms the September Hike, Flags Broadening AI Inflation

Published September 28, 20264 min read

Tower cranes and steel framing rise over a data-center construction site at dusk, power lines crossing overhead. — Fed Governor Lisa Cook says the AI buildout — and the energy and labor it consumes — is broadening inflation pressure beyond any single sector. Illustration: MarketIntelLabs

Governor Lisa Cook used a speech at Oakland Tech Week on Monday to do what the calendar entry said she would not: hand markets a clear policy-rate signal. She confirmed she voted for the Federal Reserve's 25 basis point hike at the September meeting and warned that inflation, running at an estimated 3.8 percent headline and 3.4 percent core over the 12 months into August, has been "too high for too long," with more pressure building from the AI infrastructure buildout, higher oil prices and the supply chain disruptions tied to the Middle East conflict. The remarks land as part of broader our Fed policy coverage .

Key Takeaways Cook confirmed her vote for the Fed's 25bp September hike, against…

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