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Governor of the Federal Reserve Michelle Bowman reiterated on Saturday her view that inflation is still too high despite “significant” progress in lowering it, and that the US central bank will likely have to tighten policy. monetary policy further.
“I expect that it will likely be appropriate for the Fed to raise rates further and hold them at restrictive levels for some time to return inflation to our 2 percent target in a timely manner,” Bowman said in prepared remarks to the US central bank. Connecticut Bankers Association.
‘I remain prepared to support increasing aid federal funds rate at a future meeting if incoming data shows that progress on inflation has stalled or is too slow to bring inflation to 2 percent in time,” she said.
The comments were largely identical to those Bowman made Monday about the economic and policy outlook.
On Friday, the U.S. Labor Department said employers added nearly twice as many jobs as expected in September and revised upward job gains for the previous months.
Bowman, one of the Fed’s most hawkish policymakers, said the latest employment report reflected “solid” job growth.
“The frequency and scope of recent data revisions complicate the task of predicting how the economy will evolve,” Bowman said, noting that downward revisions to job growth in previous government reports had contributed to her support last month of the Fed’s decision to to leave its benchmark. the daily interest rate is stable in the range of 5.25%-5.50%.
“I expect that it will likely be appropriate for the Fed to raise rates further and hold them at restrictive levels for some time to return inflation to our 2 percent target in a timely manner,” Bowman said in prepared remarks to the US central bank. Connecticut Bankers Association.
‘I remain prepared to support increasing aid federal funds rate at a future meeting if incoming data shows that progress on inflation has stalled or is too slow to bring inflation to 2 percent in time,” she said.
The comments were largely identical to those Bowman made Monday about the economic and policy outlook.
On Friday, the U.S. Labor Department said employers added nearly twice as many jobs as expected in September and revised upward job gains for the previous months.
Bowman, one of the Fed’s most hawkish policymakers, said the latest employment report reflected “solid” job growth.
“The frequency and scope of recent data revisions complicate the task of predicting how the economy will evolve,” Bowman said, noting that downward revisions to job growth in previous government reports had contributed to her support last month of the Fed’s decision to to leave its benchmark. the daily interest rate is stable in the range of 5.25%-5.50%.
