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MNI: Fed's Bowman: 75BP Hikes On Table Until Inflation Falls

(MNI) Washington
(MNI)

Fed governor says inflation is a larger threat to strong labor markets than softening growth.

Federal Reserve Governor Michelle Bowman said Saturday there's a case for continuing 75 basis-point rate increases until inflation slows in a meaningful way and she needs "unambiguous evidence" before marking down her price forecasts.

Following the recent hike to 2.25%-2.5%, "similarly-sized increases should be on the table until we see inflation declining in a consistent, meaningful, and lasting way," Bowman told the Kansas Bankers Association. "I support continued increases until inflation is on a consistent path to significantly decline."

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Federal Reserve Governor Michelle Bowman said Saturday there's a case for continuing 75 basis-point rate increases until inflation slows in a meaningful way and she needs "unambiguous evidence" before marking down her price forecasts.

Following the recent hike to 2.25%-2.5%, "similarly-sized increases should be on the table until we see inflation declining in a consistent, meaningful, and lasting way," Bowman told the Kansas Bankers Association. "I support continued increases until inflation is on a consistent path to significantly decline."

Keep reading...Show less