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MNI: Fed's Bowman Still Open To Hikes If Inflation Stays High

Governor Michelle Bowman lists upside risks to inflation but said her baseline outlook has inflation declining.

Federal Reserve Governor Michelle Bowman said Friday she still supports raising interest rates should data indicate progress on inflation has stalled or is insufficient to bring inflation down to 2% in a timely way.

"While the current stance of monetary policy appears to be at a restrictive level, I remain willing to raise the federal funds rate at a future meeting should the incoming data indicate that progress on inflation has stalled or reversed," she said in remarks prepared for the Massachusetts Bankers Association.

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Federal Reserve Governor Michelle Bowman said Friday she still supports raising interest rates should data indicate progress on inflation has stalled or is insufficient to bring inflation down to 2% in a timely way.

"While the current stance of monetary policy appears to be at a restrictive level, I remain willing to raise the federal funds rate at a future meeting should the incoming data indicate that progress on inflation has stalled or reversed," she said in remarks prepared for the Massachusetts Bankers Association.

Keep reading...Show less