Federal Reserve Governor Michelle Bowman said Tuesday the time is not right yet to start lowering interest rates.
Federal Reserve Governor Michelle Bowman said Tuesday the time is not right yet to start lowering interest rates, adding she would be open to raising if inflation doesn't pull back.
Recent readings have shown moderating inflation, with the Fed's preferred indicator running just under 3%. However, the rate-setting Federal Open Market Committee noted after its last meeting that there has been only"modest further progress." "I remain willing to raise the target range for the federal funds rate at a future meeting should progress on inflation stall or even reverse," she said."Given the risks and uncertainties regarding my economic outlook, I will remain cautious in my approach to considering future changes in the stance of policy."The Commerce Department on Friday will release its reading on the May personal consumption expenditures price index, the Fed's preferred inflation gauge.
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