Bowman, FOMC’s Most Hawkish Member, Keeps the Door Open to Rate Cut – Here’s What She Said
The post Bowman, FOMC’s Most Hawkish Member, Keeps the Door Open to Rate Cut – Here’s What She Said appeared on BitcoinEthereumNews.com.
The state Federal Reserve Chair Mickey Bowman, known for her hawkish stance on the Federal Open Market Committee (FOMC), spoke cautiously about the path of inflation. “I’m not confident that inflation will decline as it did in the second half of last year,” Bowman said, adding that uncertainties surround inflation trends. Bowman also raised the possibility of a future rate cut, depending on positive economic data. “If incoming data continues to show inflation moving sustainably toward our 2% target, it would be appropriate to gradually reduce the federal funds rate to prevent monetary policy from becoming overly restrictive on economic activity and employment,” he said. But Bowman called for patience and a holistic view of economic indicators. “We must be patient and avoid undermining ongoing progress in reducing inflation by overreacting to a single data point. Instead, we must view the data holistically as risks to the Committee’s employment and price stability mandates continue to move toward a better balance,” he said. Despite his cautious optimism, Bowman did not rule out potential challenges. “That said, I still see some upside risks to inflation,” he said, adding that caution is needed in monitoring economic developments. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/bowman-fomcs-most-hawkish-member-keeps-the-door-open-to-rate-cut-heres-what-she-said/
Filed under: News - @ August 12, 2024 3:20 am