Inflation & Prices
Fed’s Bowman Again Urges Multiple Rate Hikes to Curb Inflation
- Governor sees risk energy prices hurt price-growth progress
- She repeats call for independent review of bank failures
Michelle Bowman
Photographer: Al Drago/BloombergThis article is for subscribers only.
Federal Reserve Governor Michelle Bowman again said that multiple interest-rate hikes may be required to get inflation down to the central bank’s goal even after data for August showed some of the slowest price increases since 2020.
“I continue to expect that further rate increases will likely be needed to return inflation to 2% in a timely way,” Bowman said in remarks to bankers in Banff, Canada. “I see a continued risk that high energy prices could reverse some of the progress we have seen on inflation in recent months.”