Federal Reserve Governor Bowman Turns Hawkish Again: Multiple Upside Risks to Inflation, No Rate Cuts Expected This Year

Bowman believes that factors contributing to lower inflation, such as supply chain improvements and a surge in labor supply from immigration, are unlikely to continue.

Additionally, geopolitical issues, fiscal stimulus, and relaxed financial conditions pose further potential risks to inflation, possibly delaying rate cuts until 2025.

Bowman expressed an openness to raising rates if necessary, stating that if progress on reducing inflation stalls or reverses, she would still be willing to hike rates.

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