Federal Reserve Governor Bowman will speak in ten minutes.
Federal Reserve Governor Bowman: We should be cautious when considering adjustments to the policy rate.
Federal Reserve Governor Bowman: Support the December rate cut as the "last step" of policy readjustment.
Bowman, the Fed governor, said on Thursday that she supported last month's rate cut as the "last step" in the Fed's monetary policy adjustment and that caution was needed in the future because of rising inflation risks. "We should also avoid prejudging the future policy of the new administration," Bowman said in remarks to the California Bankers Association.
Traders are no longer fully pricing in bets that the Federal Reserve will cut interest rates by July.
Federal Reserve Governor Cook: The Federal Reserve can take more cautious measures in cutting interest rates.
Federal Reserve Governor KUGLER said that we are on track to achieve our 2% inflation target.
Federal Reserve Governor KUGLER said that the economy is in good shape in 2024, the U.S. job market remains resilient and has been gradually cooling; real wage growth for workers; the unemployment rate of 4.2% remains historically low, and the job market is stable.
Fed Governor Bowman said that with core inflation on the rise, progress on inflation appears to have stalled, and next week's inflation data will help determine interest rates, favoring a cautious and gradual reduction in rates.
Mr. Waller, the Fed governor, said he favoured a December rate cut unless the data were unexpected. Policy rates are restrictive enough that even a December cut would leave plenty of room to slow the pace of rate cuts as needed. If the data showed that forecasts of slower inflation were inaccurate, he would support keeping rates on hold in December.
Federal Reserve Governor Bowman will speak in ten minutes.
Bowman, a Federal Reserve governor, said he sees greater risks to the price stability mandate, even though labor market conditions could deteriorate.
Fed Governor Bowman expressed unease on Wednesday about cutting interest rates while inflation remains above the 2 percent target, adding more color to her call for further cautious rate cuts. "We're readjusting policy, but we're not on our inflation target yet, and that worries me," she said. Bowman said progress toward the Fed's 2 percent goal looks to have stalled as inflation remains high...
Fed Governor Bowman sees greater risks to the price stability mandate, although labor market conditions could deteriorate. The economy is strong, the labor market is near full employment, and inflation is high. Nonfarm payrolls in October are expected to grow at recent averages after accounting for hurricanes, Boeing strikes, and a low response rate to the survey.
Bowman, the Fed governor, said the central bank should take a cautious approach to monetary policy and could be closer to neutral than policymakers currently believe; inflation remains a concern and progress toward reducing it appears to have stalled. There is a risk that policy rates will fall below neutral before the price stability objective is achieved. Expectations for neutral rates are higher than they were before the COVID-19 pandemic.