Fed’s Bowman Sees Sizable Rate Hikes on Table Unless Inflation Falls
- Bowman: need to keep rates at restrictive level for some time
- Says a slower rate-hike pace appropriate if inflation declines
Michelle Bowman
Photographer: Al Drago/BloombergThis article is for subscribers only.
Federal Reserve Governor Michelle Bowman said she continues to favor large increases in interest rates to cool inflation that is near four-decade highs.
“If we do not see signs that inflation is moving down, my view continues to be that sizable increases in the target range for the federal funds rate should remain on the table,” Bowman said Wednesday in remarks papered for delivery to the Money Marketeers of New York University. She said that “a slower pace of rate increases would be appropriate” if inflation started to decline.