Federal Reserve nominee Cook says tackling inflation is the most important task

[NEW YORK] Lisa Cook, one of US President Joe Biden's nominees to the Federal Reserve Board, said the central bank's most important task is tackling high inflation.

"I agree with Chair Powell that our most important task is tackling inflation," Cook said in remarks prepared for a confirmation hearing with the Senate Banking Committee, released on Wednesday. "High inflation is a grave threat to a long, sustained expansion."

Cook will testify before the committee on Thursday.

Cook is an economics professor at Michigan State University and would be the first Black woman to serve on the governing body of the US central bank. REUTERS