Fed’s Bowman: Appropriate for us to slow the pace of increases
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Federal Reserve (Fed) Governor Michelle Bowman noted on Thursday that the headline and core inflation have slowed slightly but added that they are still unacceptably high, as reported by Reuters.
“I expect ongoing increases in rate hikes at coming meetings.”
“We still have a lot of work to do but it is appropriate for us to slow the pace of increases.”
“That will allow us to more fully assess the impact of our actions.”
“My views on size and pace of rate hikes will be guided by incoming data.”
“Looking for signs inflation has peaked and is on a downward path.”
“Policy will have to remain restrictive for some time to get inflation down.”
“I’ll continue to watch labor market to assess the impact of our actions there.”
“We are not seeing a significant impact on reducing inflation.”
“They are still at high levels and I need to see our actions have an impact.”
“Until then, I expect we will have a slightly higher terminal rate than I had anticipated at sept meeting.”
“Balance sheet not creating issues at this point, we need to continue to monitor.”
The US Dollar stays under heavy bearish pressure following these comments and the US Dollar Index was last seen losing 0.92% on the day at 104.90.
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