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MNI: Fed’s Bowman – Hike Rapidly To Get Real Rates Positive

(MNI) Washington

Fed Governor Michelle Bowman sees 75 bp hike in July and 50 bps in subsequent meetings.

The Federal Reserve should raise rates by 75 basis points in July and by 50 basis points at subsequent meetings in orderly to rapidly move real interest rates into positive territory, Fed Governor Michelle Bowman said Thursday.

“Based on current inflation readings, I expect that an additional rate increase of 75 basis points will be appropriate at our next meeting as well as increases of at least 50 basis points in the next few subsequent meetings, as long as the incoming data support them,” she said in prepared remarks to the Massachusetts Bankers Association.

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The Federal Reserve should raise rates by 75 basis points in July and by 50 basis points at subsequent meetings in orderly to rapidly move real interest rates into positive territory, Fed Governor Michelle Bowman said Thursday.

“Based on current inflation readings, I expect that an additional rate increase of 75 basis points will be appropriate at our next meeting as well as increases of at least 50 basis points in the next few subsequent meetings, as long as the incoming data support them,” she said in prepared remarks to the Massachusetts Bankers Association.

Keep reading...Show less