Reported 8 months ago
U.S. Federal Reserve Governor Michelle Bowman emphasized the need for maintaining a steady policy rate 'for some time' to bring inflation under control. Despite acknowledging potential risks and uncertainties, Bowman stated her reluctance to reduce borrowing costs for the remainder of the year, citing the economic outlook and data uncertainties. While inflation risks persist, Bowman remains cautious in her approach to monetary policy and anticipates international central banks may adjust policy rates sooner than the Fed. The Fed is closely monitoring inflation progress to achieve its 2% goal, with Bowman expecting elevated inflation levels for the foreseeable future.
Source: YAHOO