Bowman said that it’s possible more hikes could be needed, rather than the cuts the market is expecting.
Federal Reserve Governor Michelle Bowman said Friday that it's possible interest rates may have to move higher to control inflation, rather than the cuts her fellow officials have indicated are likely and that the market is expecting.
"While it is not my baseline outlook, I continue to see the risk that at a future meeting we may need to increase the policy rate further should progress on inflation stall or even reverse," she said in prepared remarks for a speech to a group of Fed watchers in New York."Reducing our policy rate too soon or too quickly could result in a rebound in inflation, requiring further future policy rate increases to return inflation to 2 percent over the longer run.
Bowman said her mostly likely outcome remains that"it will eventually become appropriate to lower" rates, though she noted that"we are still not yet at the point" of cutting as"I continue to see a number of upside risks to inflation." 43-year-old started a side hustle in college with $150—now it brings in $200 million a year: It took ‘everything that I had'"Given the risks and uncertainties regarding my economic outlook, I will continue to watch the data closely as I assess the appropriate path of monetary policy, and I will remain cautious in my approach to considering future changes in the stance of policy," Bowman said.
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