Fed's Bowman: Too Soon to Cut Rates Despite Cooling Inflation

• Fed Governor Michelle Bowman said it's too soon to cut interest rates despite expectation for inflation to continue declining • Bowman will monitor data to assess appropriate policy path; cited several risks that could add inflation pressures • Bowman said rates should only be cut when data shows inflation moving sustainably to 2% target • Cutting rates too soon could require future hikes • Bowman repeated call for "significant revisions" to July proposal to increase bank capital requirements