Posted 11/28/2023, 3:48:07 PM
Fed's Bowman Warns Further Rate Hikes Likely Needed to Curb Inflation Despite Recent Easing
- Fed's Bowman expects further interest rate hikes will be needed to bring down inflation
- Inflation has fallen from peak but remains high at 3.4% by Fed's preferred measure
- Progress on inflation has been uneven and outlook highly uncertain
- Factors like consumer spending, energy prices, reshoring could sustain inflation
- Bowman believes rate consistent with stable inflation may be higher than pre-pandemic