Reported about 21 hours ago
A prominent Federal Reserve official, Michelle Bowman, expressed that the disappointing U.S. jobs report has strengthened her belief that interest rates should be reduced three times this year to stimulate the economy. Despite losing a recent vote that kept rates steady, Bowman emphasizes the importance of lowering rates to encourage borrowing, although concerns about increasing inflation persist. She noted that the labor market data reflects lower hiring than anticipated, making a stronger case for her position ahead of the Fed's upcoming meetings.
Source: YAHOO