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MNI: Bowman Remains Open To Further Fed Hikes

(MNI) WASHINGTON

Governor Miki Bowman says long-term neutral rate might be higher.

Federal Reserve Governor Miki Bowman remains willing to support raising the federal funds rate at a future meeting should data indicate progress on inflation has stalled or is insufficient to bring inflation down to 2% in a timely way.

"At our last meeting, I supported the FOMC’s decision to hold the target range for the federal funds rate at the current level as we continue to assess incoming information and its implications for the outlook," she said in prepared remarks. "But my baseline economic outlook continues to expect that we will need to increase the federal funds rate further to keep policy sufficiently restrictive to bring inflation down to our 2 percent target in a timely way."

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Federal Reserve Governor Miki Bowman remains willing to support raising the federal funds rate at a future meeting should data indicate progress on inflation has stalled or is insufficient to bring inflation down to 2% in a timely way.

"At our last meeting, I supported the FOMC’s decision to hold the target range for the federal funds rate at the current level as we continue to assess incoming information and its implications for the outlook," she said in prepared remarks. "But my baseline economic outlook continues to expect that we will need to increase the federal funds rate further to keep policy sufficiently restrictive to bring inflation down to our 2 percent target in a timely way."

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