Federal Reserve Governor Michelle Bowman said on Tuesday that she expects the central bank will have to hike rates further to bring inflation down to its two percent target.
“My baseline economic outlook continues to expect that we will need to increase the federal funds rate further to keep policy sufficiently restrictive to bring inflation down to our 2% target in a timely way,” Bowman said in a speech to bankers and businessmen in Salt Lake City, Utah. “However, monetary policy is not on a preset course, and I will continue to closely watch the incoming data as I assess the implications for the economic outlook and the appropriate path of monetary policy.”
“I remain willing to support raising the federal funds rate at a future meeting should the incoming data indicate that progress on inflation has stalled or is insufficient to bring inflation down to 2 percent in a timely way,” Bowman said.
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“My baseline economic outlook continues to expect that we will need to increase the federal funds rate further to keep policy sufficiently restrictive to bring inflation down to our 2% target in a timely way,” Bowman said in a speech to bankers and businessmen in Salt Lake City, Utah. “However, monetary policy is not on a preset course, and I will continue to closely watch the incoming data as I assess the implications for the economic outlook and the appropriate path of monetary policy.”
“I remain willing to support raising the federal funds rate at a future meeting should the incoming data indicate that progress on inflation has stalled or is insufficient to bring inflation down to 2 percent in a timely way,” Bowman said.
Fed Governor Bowman Says She Expects More Rate Hikes
Federal Reserve Governor Michelle Bowman said on Tuesday that she expects the central bank will have to hike rates further to bring inflation down to its | Economy
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