Fed Governor Michelle Bowman cautioned that numerous rate hikes may be necessary to return inflation to healthy levels in two speeches she gave on Saturday and Monday.
Bowman, a senior Fed official, is pushing back against growing hopes on Wall Street that the central bank could be nearly done raising interest rates. In a pair of speeches on Saturday and on Monday, Fed Governor Michelle Bowman warned that multiple rate hikes could be required to get inflation back to healthy levels.
\u201cWe have made progress in lowering inflation over the past year, but inflation is still significantly above\u201d the Fed\u2019s 2% target, Bowman said on Monday at an event in Atlanta.Bowman, one of the more hawkish members of the Fed\u2019s rate-setting committee, highlighted that the job market \u201ccontinues to be tight, with job openings still far exceeding the number of available workers.\u201d
\u201cGiven these developments, I supported raising the federal funds rate at our July meeting, and I expect that additional increases will likely be needed to lower inflation to the FOMC\u2019s goal,\u201d Bowman said.
By contrast, many investors and some leading economists have been predicting the Fed will raise interest rates just one more time, or perhaps none. After Friday\u2019s NFP report showing that hiring in July wasn\u2019t too hot, but also not too cold, Goldman Sachs economists wrote in a note to clients that they continue to anticipate the Fed will \u201cdecide that a final hike is unnecessary\u201d due to cooling inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fed Governor Michelle Bowman cautioned that numerous rate hikes may be necessary to return inflation to healthy levels in two speeches she gave on Saturday and Monday.Bowman, a senior Fed official, is pushing back against growing hopes on Wall Street that the central bank could be nearly done raising interest rates. In a pair of …<\/p>\n","protected":false},"author":13,"featured_media":62114,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7821,6885,8143,7087,7957],"class_list":["post-87456","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-bowman","tag-fed","tag-interest-rate-hikes","tag-jobs","tag-nfp-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=87456"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87456\/revisions"}],"predecessor-version":[{"id":87462,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87456\/revisions\/87462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62114"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=87456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=87456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=87456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}