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MNI: Bowman Warns Of Fed Divergence With Other Central Banks

Fed's Bowman says it will likely be "some time" before the U.S. central bank can begin lowering interest rates.

Federal Reserve Governor Michelle Bowman Tuesday said it will likely be "some time" before the U.S. central bank can begin lowering interest rates, warning that U.S. monetary policy over the coming months could diverge from that of other advanced economies.

"My baseline outlook continues to be that U.S. inflation will return to the FOMC’s 2% goal, with the target range of the federal funds rate held at its current level of 5.25% to 5.5% for some time," she said in prepared remarks at a Policy Exchange event in London.

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Federal Reserve Governor Michelle Bowman Tuesday said it will likely be "some time" before the U.S. central bank can begin lowering interest rates, warning that U.S. monetary policy over the coming months could diverge from that of other advanced economies.

"My baseline outlook continues to be that U.S. inflation will return to the FOMC’s 2% goal, with the target range of the federal funds rate held at its current level of 5.25% to 5.5% for some time," she said in prepared remarks at a Policy Exchange event in London.

Keep reading...Show less