Lisa Cook, governor of the US Federal Reserve, during a roundtable discussion at Spelman College in Atlanta, Georgia, US, on Friday, Dec. 1, 2023. The Federal Reserve chair pushed back against Wall Street's growing expectations of interest-rate cuts in the first half of 2024, saying the committee will move cautiously with borrowing costs at a 22-year high but retain the option to hike further. Photographer: Alyssa Pointer/Bloomberg via Getty Images