Fed's Bowman: latest data suggests slower inflation progress
Source Fxstreet
According to Federal Reserve (Fed) Board of Governors member Michelle Bowman, slower-than-expected progress on inflation has left the Fed policymaker cautious about monetary policy stance.
Key highlights
- Latest inflation data suggests slower progress on inflation.
- Fed's Bowman expects inflation will decline further with current policy rates.
- Upside risks to inflation still remain.
- Fed's monetary policy stance is still appropriately restrictive.
- Economic activity, consumer spending remain strong, labor market is still tight.
- If inflation moves sustainably to 2% goal, it will eventually be appropriate to cut rates, but not there yet.
- Fed's Bowman remains willing to raise policy rates if progress on inflation stalls or reverses.
- Remains cautious on monetary policy.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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