Fed’s Bowman Signals More Rate Hikes Likely Will Be Needed
- Governor seeks ‘consistent evidence’ of slower price growth
- Bowman also watching for loosening labor-market conditions
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Federal Reserve Governor Michelle Bowman said the US central bank may need to raise rates further in order to fully restore price stability.
“Additional rate increases will likely be needed to get inflation on a path down to the FOMC’s 2% target,” Bowman said, referencing the policy-setting Federal Open Market Committee.