Fed Gov. Bowman: Will remain cautious on monetary policy
Fed Gov. Michelle Bowman is speaking and says:Will remain cautious on monetary policyIf inflation moves sustainably to 2% goal, it will eventually be appropriate to cut interest rates; not yet thereReducing policy rate too soon could result in need for future rate hikesShe remains willing to raise policy rate if inflation progress stalls or reversesLatest inflation data suggests slower progress on inflationEconomic activity and consumer spending are strong, labor market 'tight'Bowman is a permanent voting member as the governor on the Federal Reserve Board. Her comments are consistent with delaying tightening. The market is pricing in around 63% chance of a cut in June. This article was written by Greg Michalowski at www.forexlive.com.
Fed Gov. Michelle Bowman is speaking and says:
- Will remain cautious on monetary policy
- If inflation moves sustainably to 2% goal, it will eventually be appropriate to cut interest rates; not yet there
- Reducing policy rate too soon could result in need for future rate hikes
- She remains willing to raise policy rate if inflation progress stalls or reverses
- Latest inflation data suggests slower progress on inflation
- Economic activity and consumer spending are strong, labor market 'tight'
Bowman is a permanent voting member as the governor on the Federal Reserve Board. Her comments are consistent with delaying tightening. The market is pricing in around 63% chance of a cut in June. This article was written by Greg Michalowski at www.forexlive.com.
