Fed's Bowman voted against jumbo cut to avoid signaling victory on inflation
Investing.com -- Fed Governor Michelle Bowman said Friday that she voted against the central bank's decision to begin the rate-cutting cycle with jumbo cut to avoid stoking expectations that the Fed has won its battle against inflation.
Bowman was the sole voting Fed member who voted against the Fed's 50 basis point cut in September in favor of a lesser 25bps cut. "Inflation remains above our 2 percent goal, as core personal consumption expenditures prices are still rising faster than 2.5 percent from 12 months earlier," Bowman said.
Still, a slowing labor market was key, the fed governor added, to"help bring wage growth down to a pace consistent with 2 percent inflation given trend productivity growth."Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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