Federal Reserve Governor Michelle Bowman said she supports raising interest rates by 75 basis points again in July and following that with a few more half-point hikes.
The hawkish remarks Thursday come roughly a week after the central bank delivered the largest rate increase since 1994. Fed officials are sending a strong signal that they will do what is needed to rein in soaring inflation, while acknowledging that it’s becoming more challenging for them to achieve a soft landing on the economy.
