Federal Reserve Watch for Sept. 28: Cook Expects More Upward Pressure on Inflation from AI, Labor Markets Able to Handle Rate Increase

02:23 PM EDT, 09/28/2026 (MT Newswires) -- Fed Governor Lisa Cook (voter) said that she expects further upward inflation pressure from the AI buildout, higher oil prices and supply chain disruptions in the Middle East, while the labor market is "well positioned to handle an increase in rates." Recent comments of note: (Sept. 24) New York Fed President John Williams (voter) said that it is "reasonable" to expect that the FOMC will need to raise rates further this year, adding that the decision would be based on incoming data rather than mapped out plan. (Sept. 24) Philadelphia Fed President Anna Paulson (voter) said that she supported the rate increase at the September FOMC meeting and said that she expects further rate increases may be needed to return inflation to its 2% goal. (Sept. 23) Fed Governor Michael Barr (voter) said that he supported the rate increase at the most recent FOMC meeting, adding that further increases will likely to be needed to help bring down inflation and restore price stability. (Sept. 22) Richmond Fed President Tom Barkin (nonvoter) said inflation risks are a greater concern at the moment for the FOMC than growth and employment risk, resulting in the 25-basis point rate increase that the most recent FOMC meeting, but did not forecast the rate path going forward. (Sept. 21) Chicago Fed President Austan Goolsbee (nonvoter) said that strong demand could also be driving inflation and that the Fed's job of lower the pace of price growth back down to the 2% goal may necessitate further rate increases that could negatively impact employment and economic growth.