[Federal Reserve's Cook: Committed to Bringing Inflation Back to the 2% Target Level] Jin10 News, October 1 – Federal Reserve Governor Lisa Cook stated that overall inflation in the United States remains above the Fed's 2% target for more than five years. She supported a 25 basis point rate hike at the September meeting and emphasized her commitment to restoring price stability while maintaining a strong labor market. She noted that rural communities in the United States have approximately 20 million workers, accounting for about one-eighth of the U.S. workforce. The unemployment rate in these areas is close to the national average, but labor force participation rates are lower, and employment growth in recent years has been slower than in urban areas. Inflation in rural areas was once higher than in urban areas after the pandemic, primarily due to rising energy prices and housing costs. Cook pointed out that transportation expenses account for about one-quarter of rural households' total expenditures, higher than that of urban households, making rural residents more significantly affected by rising energy prices. She also highlighted the critical role of small businesses in the rural economy. There are approximately 4.3 million small businesses in rural areas of the United States, accounting for over 96% of local businesses and providing 7.4 million jobs.