Michelle Bowman is a Governor on the Board of the U.S. Federal Reserve and as such has a permanent vote on the Federal Open Market Committee (FOMC).

Bowman was speaking at a bankers’ conference in Colorado Springs, on Saturday. The Wall Street Journal (gated) report:

• the apparent weakening in the labor market outweighs the risks of higher inflation to come
• expects to support three rate cuts over the Federal Reserve’s three remaining meetings this year
• “With economic growth slowing this year and signs of a less dynamic labor market becoming clear, I see it as appropriate to begin gradually moving our moderately restrictive policy stance toward a neutral setting”

I posted the news over the weekend here ICYMI:

• Fed Board Governor Bowman calls for September rate cut, and another two by year end

This article was written by Eamonn Sheridan at investinglive.com.

Source link