Economics
Fed Official Suggests Half-Point March Hike on Table If Data Hot
- Bowman favors ‘forceful action’ to quell high inflation
- Says policy later in year to be shaped by how economy evolves
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Federal Reserve Governor Michelle Bowman suggested that a half percentage-point increase in interest rates could be on the table next month if incoming readings on inflation come in too high.
“I support raising the federal funds rate at our next meeting in March and, if the economy evolves as I expect, additional rate increases will be appropriate in the coming months,” said Bowman. “I, as all of my colleagues will as well, will be watching the data closely to judge the appropriate size of an increase at the March meeting,” she told an American Bankers Association Community Banking Conference on Monday in Palm Desert, California.