Fed Governor Bowman says more progress on inflation is needed before further rate cuts
The Fed official called for more progress on inflation before the central bank engages in further interest rate cuts.
Federal Reserve Governor Michelle Bowman said on Monday that while monetary policy "is now in a good place," she wants to see data reflect more progress on inflation before cutting interest rates further.
"I would like to gain greater confidence that progress in lowering inflation will continue as we consider making further adjustments to the target range," Bowman said in a speech at the American Bankers Association.