Fed/Bowman: Adjusting Policy Before Reaching Our Inflation Target Concerns Me

Forex - A member of the Federal Reserve Board expressed that inflation remains a dominant concern regarding the economy, advocating for a cautious approach to further rate cuts by the central bank. Bowman articulated his discomfort with the Fed lowering interest rates while inflation continues to exceed the Fed's 2% target, adding more depth to his call for a prudent approach to additional rate reductions. Speaking at the Forum Club of the Palm Beaches, Bowman stated that he still believes prices are rising too rapidly. He mentioned, "While economic conditions may support our employment mandate, the sustained high level of inflation has not been satisfactory from the perspective of our price stability mission. It concerns me that we are adjusting policy but have not yet achieved our inflation target."