Posted 4/5/2024, 4:35:48 PM
Fed's Bowman Urges Patience on Rate Cuts Despite Lingering Inflation Risks
- Fed's Bowman says it's not time yet to cut interest rates, though more rate hikes could happen if inflation progress stalls
- Sees outlook for further declines in inflation with ongoing labor market strength
- Says it may eventually become appropriate to gradually lower rates to prevent over-tightening
- Notes upside risks to inflation remain on several fronts
- Cautions policymakers on significant bank capital requirement increases proposed under U.S. Basel III rules