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MNI BRIEF: Bowman Says Too Soon For Fed To Begin Rate Cuts

(MNI) WASHINGTON
USPolicy NewsCentral Bank NewsHomepageFederal ReserveBriefStoryRegionNorth America

Federal Reserve Governor Michelle Bowman on Wednesday said it is too early to begin lowering interest rates, and she is remaining data dependent while looking for more confidence that inflation is truly coming down to the 2% target.

"It will be appropriate at some point to begin the process of lowering rates but given the data certainly not now," she said in Q&A at an Exchequer Club luncheon, expressing some concern about the strength of recent inflation and jobs reports. The Fed governor also said the state of the housing market will not influence the timing of the Fed's rate cut decisions. (See: MNI INTERVIEW: Fed Could Cut As Early As June - Quarles)

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Federal Reserve Governor Michelle Bowman on Wednesday said it is too early to begin lowering interest rates, and she is remaining data dependent while looking for more confidence that inflation is truly coming down to the 2% target.

"It will be appropriate at some point to begin the process of lowering rates but given the data certainly not now," she said in Q&A at an Exchequer Club luncheon, expressing some concern about the strength of recent inflation and jobs reports. The Fed governor also said the state of the housing market will not influence the timing of the Fed's rate cut decisions. (See: MNI INTERVIEW: Fed Could Cut As Early As June - Quarles)