Central Banks
Fed’s Bowman Warns of Upside Risks to Inflation, Not Time to Cut
- Flagged risks of immigration policy on labor market, rents
- Bowman outlines why Fed was slow to hike rates post-Covid
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Federal Reserve Governor Michelle Bowman said she sees a number of upside risks to the inflation outlook, and reiterated the need to keep borrowing costs elevated for some time.
“We are still not yet at the point where it is appropriate to lower the policy rate,” Bowman said in prepared remarks Tuesday in London. “Given the risks and uncertainties regarding my economic outlook, I will remain cautious in my approach to considering future changes in the stance of policy.”