Fed Governor Bowman: Significant Rate Increases May Continue

US Federal Reserve (Fed) Governor Michelle Bowman stated that she firmly supports extremely large rate rises to combat inflation in a speech before the Kansas Bankers Association on Saturday, according to the Wall Street Journal (WSJ).

August 08, 2022 - 01:10 PM 460 views

Fed Governor Bowman: Significant Rate Increases May Continue

Market News

© Fed Governor Bowman: Significant Rate Increases May Continue

Free Enquiry Now

US Federal Reserve (Fed) Governor Michelle Bowman stated that she firmly supports extremely large rate rises to combat inflation in a speech before the Kansas Bankers Association on Saturday, according to the Wall Street Journal (WSJ).

Key Quotes

Strongly backed last month's 0.75 percentage point rate hike by the Fed and said that "similarly sized hikes should be considered going forward until we see inflation decreasing in a regular, significant, and long-term manner.”

In addition, the "current projection predicts economic growth picking up over the second half of the year," thus "expect the labour market to continue strong."

The main issue we have is bringing inflation under control.

Recently recorded inflation is "concerningly high."

There are "few, if any, tangible signs" that suggest that inflation has reached its peak.

Before I factor an ease in inflation pressures into my prognosis, I will need to see clear evidence of this drop.

The Market Reaction

The US dollar index is currently stabilizing near 106.60 ahead of the next push upward, having fallen from its weekly highs.

Learn to Trade with Best and Trusted Global Broker

Start your journey with us and learn from basic to advance with one to one training session. Get full knowledge about the market from our expert team and become expert in market.

Free Enquiry Now:  Check Out Here

Share With -

 

No comments yet for this post

Please Login to comment this article.

If not a registered user yet, Please signup here