Fed's Bowman: Further inflation declines possible without more rate hikes
The Federal Reserve (Fed) Governor Bowman is speaking at the South Carolina Bankers Association 2024 Community Bankers Conference
Key quotes
“Inflation could fall further with policy rate held steady for some time
Current policy stance appears sufficiently restrictive.”
“It will eventually become appropriate to lower Fed’s policy rate, should inflation fall closer to 2%.”
“Labor market supply and demand coming into better balance.”
“Upside inflation risks remain, including geopolitical and easing financial conditions.”
“I will remain cautious in my approach to considering changes to Fed policy rate.”
“Remain willing to raise policy rate at a future Fed meeting, should inflation progress stall or reverse.”
“Climate guidance from banking regulators diverts resources from core financial risks.”
Market reaction
The US Dollar Index (DXY) is trading lower on the day at 102.28, as of writing.