Bowman, Federal Reserve Board (FRB) Governor, advises caution on additional rate cuts - progress in inflation control slows.
November 21, 2024 2:55 JST (excerpt)
Governor Bowman opposed the 50 basis points rate cut decision in September - the first time in about 20 years as a board member.
Before reaching the price stability target, there is a risk alert that the policy interest rate may fall below the neutral level.
Federal Reserve Board (FRB) Governor Bowman stated on the 20th that he wants to approach further rate cuts with caution, recognizing that progress in inflation suppression is stalled.
Regarding the reduction of the policy interest rate, he stated, "I want to proceed cautiously in order to be able to determine accurately how far we are from the final point while carefully monitoring the labor market trends, recognizing that the inflation target has not yet been achieved." The remarks are based on the manuscript prepared for a speech in Palm Beach, Florida.
Governor Bowman opposed the 50 basis points rate cut decision in September - the first time in about 20 years as a board member.
Before reaching the price stability target, there is a risk alert that the policy interest rate may fall below the neutral level.
Federal Reserve Board (FRB) Governor Bowman stated on the 20th that he wants to approach further rate cuts with caution, recognizing that progress in inflation suppression is stalled.
Regarding the reduction of the policy interest rate, he stated, "I want to proceed cautiously in order to be able to determine accurately how far we are from the final point while carefully monitoring the labor market trends, recognizing that the inflation target has not yet been achieved." The remarks are based on the manuscript prepared for a speech in Palm Beach, Florida.
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