Bowman Says Fed Should Proceed ‘Cautiously’ With Rate Cuts
- Fed governor says progress on inflation seems to have stalled
- Says risks to inflation are greater than risks to labor market
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Federal Reserve Governor Michelle Bowman reiterated that she prefers to lower interest rates cautiously, emphasizing underlying inflation remains “uncomfortably” above the central bank’s 2% goal.
Bowman said upside risks to price growth remain “prominent.” She noted progress on inflation appears to have stalled and indicated she continues to see inflation as a greater concern than the labor market at this time.