Fed's Cook says households, banks, firms are in solid financial shape

Federal Reserve Governor Lisa Cook says households, banks, firms largely in solid financial shape. Commercial real estate poses "sizable but manageable" risks to banks with large concentrations of related loans, Cook says. Cook: Even commercial real estate fell in value as workers shifted to home-based offices during pandemic.

Federal Reserve Governor Lisa Cook says nonbank lending by nonbank investment firms bears watching. Cook says private credit doesn't appear to have created excessive risk for financial system. Cook: "The growth of private credit likely likely will likely continue to be seen as a precautionary measure"