Fed’s Bowman: I Don’t Think It’s Necessary To Cut Interest Rates This Year

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Michelle W. Bowman, a member of the Board of Governors of the Federal Reserve (Fed), spoke at the annual meeting of the Texas Bankers Association in Arlington, Texas, stating that she is optimistic about a rate cut in 2024. skeptical of the possibility.

I don’t think a rate cut is necessary this year.

If there is an unexpected shock, a rate cut would be justified.

I would like to see better inflation data for several months in a row.

It may be a few more meetings before I’m ready to cut rates.