Fed’s Cook says inflation too high, committed to 2% target

Cook's emphasis on persistence, rather than just the level of inflation, signals the Fed is not treating the recent path as sufficient progress toward target. For crypto and RWA markets, the relevant channel is the rate backdrop: a policymaker explicitly defending further tightening keeps the cost-of-capital environment restrictive, which tends to weigh on risk appetite and tokenized-yield economics alike. The open question is whether this hawkish tone is isolated or becomes the prevailing view within the FOMC.