Fed's Bowman: latest data suggests slower inflation progress

Joshua Gibson FXStreet

According to Federal Reserve (Fed) Board of Governors member Michelle Bowman, slower-than-expected progress on inflation has left the Fed policymaker cautious about monetary policy stance.

Key highlights

Latest inflation data suggests slower progress on inflation.
Fed's Bowman expects inflation will decline further with current policy rates.
Upside risks to inflation still remain.
Fed's monetary policy stance is still appropriately restrictive.
Economic activity, consumer spending remain strong, labor market is still tight.
If inflation moves sustainably to 2% goal, it will eventually be appropriate to cut rates, but not there yet.
Fed's Bowman remains willing to raise policy rates if progress on inflation stalls or reverses.
Remains cautious on monetary policy.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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