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Michelle Bowman, a governor at the Federal Reserve, said on Monday she’s ready to vote for a rate cut at the next policy meeting in July… if inflation stays low. Speaking during a conference in Prague, she made it clear that the current data gives enough space for the Fed to lower its benchmark interest rate. Bowman’s statement now aligns her with Christopher Waller, another Federal Reserve governor who publicly backed a possible rate cut last Friday. According to CNBC, Bowman told attendees, “Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting in order to bring it closer to its neutral setting and to sustain a healthy labor market.” She said she’ll keep tracking how White House policies, the broader economy, and the financial system evolve in the coming weeks. Waller, in his own interview with CNBC, had already said July should be an option. That now puts two voices from inside the Fed backing action next month, despite Jerome Powell, the Fed chair, still pushing for no rate cut until September. Fed leadership divided over timeline for rate cuts The Fed’s July meeting will happen on the 29th and 30th, but futures traders aren’t fully convinced that any change is coming that soon. As of now, the CME FedWatch tool puts the chances of a July rate cut at 23%, with 77% betting on September instead. Bowman’s position, though, shows that the internal debate is far from settled. Right now, the Fed’s key rate is between 4.25% and 4.5%, and it’s been sitting there since the last FOMC meeting. That meeting ended with a shift in tone. Powell said last week the Fed has room to be patient, because the job market remains strong and recent inflation numbers haven’t moved…

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Filed under: News - @ June 23, 2025 4:26 pm