The governor of the Federal Reserve, Michelle Bowmanreiterated on Saturday his view that inflation remains too high despite “considerable” progress in reducing it, and that the central bank US will probably have to tighten monetary policy further.
“I hope it is appropriate that the Federal Reserve raise rates further and keep them at a restrictive level for some time to return inflation to our 2% target in a timely manner,” Bowman told the Connecticut Bankers Association.
“I remain willing to support raising the federal funds rate at a future meeting if new data indicates that inflation progress has stalled or is too slow to bring inflation to 2% in a timely manner,” she noted.
The comments were largely identical to those Bowman made on Monday about the economic and political outlook.
On Friday, the U.S. Department of Labor reported that employers created nearly twice as many jobs as expected in September.
Bowman He said the latest report reflects “solid” job growth.
“The frequency and scope of recent data revisions complicate the task of projecting how the economy will evolve,” he said. Bowman.
(Reporting by Ann Saphir – Reuters)
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.