MNI BRIEF: Fed Gov Bowman: Watching Data On March Hike Size

Federal Reserve Governor Michelle Bowman said Monday she'll judge whether interest rates should increase by more than a quarter point next month based on data, adding that inflation is "much too high" and could stay that way.

"I support raising the federal funds rate at our next meeting in March and, if the economy evolves as I expect, additional rate increases will be appropriate in the coming months. I will be watching the data closely to judge the appropriate size of an increase at the March meeting," she said in remarks prepared for the American Bankers Association community banking conference.

"In the near term, I expect that uncomfortably high inflation will persist at least through the first half of 2022. We may see signs of inflation easing in the second half of the year, but there is a substantial risk that high inflation could persist."