Bowman signals caution on rate cuts as end point for cutting cycle could be closer
backed a cautious approach to rate cuts amid expectations that the neutral level or end point for rates may be higher than previously expected at time when progress against inflation has stalled in recent months.
Bowman was the lone Fed voting member to voting against a 50 basis point rate cut at the Fed's December meeting, preferring the central bank to cut by 25bps. But the neutral rate or end point for the Fed's rate cut cycle could be higher than previously expected, suggesting that the road to rate cuts could be shorter than previously expected.
Bowman's caution on rate cuts comes as progress on slowing has appeared to stall in recent months, and now poses greater risks to the Fed's goal to bring inflation down to 2%.
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