Central Banks
Bowman Says Fed Needs to Keep Raising Rates to Cool Inflation
- Fed governor seeking ‘a consistent decline’ in price pressures
- Says rates not yet sufficiently restrictive to slow economy
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Federal Reserve Governor Michelle Bowman said the US central bank should keep raising interest rates to reduce inflation which remains “much too high.”
“I don’t think we’re seeing what we need to be seeing, especially with inflation,” Bowman said Friday at a Tennessee Bankers Association Credit Conference in Nashville. “I think we’ll have to continue to raise the federal funds rate until we start to see a lot more progress on that.”