- Michelle Bowman doesn’t expect the Fed to cut interest rates in 2024.
- Bowman thinks the Fed cutting interest rates in 2024 will be “inappropriate.”
- The Governor urged the Fed to proceed “carefully and deliberately” with its 2% inflation goal.
According to reports, Federal Reserve Governor Michelle Bowman said she doesn’t expect the Fed to cut interest rates in 2024. Bowman cited persistent inflation in the first several months of the year as the main reason she does not see cutting interest rates as an appropriate move by America’s apex bank.
Bowman’s comments came during an interview after her speech to bankers at a recent event in Texas, where she urged the central bank to proceed “carefully and deliberately” as policymakers move toward the Fed’s 2% inflation goal.
Meanwhile, Atlanta Fed President Raphael Bostic believes the Fed could still cut rates before the end of 2024. Despite his belief, he remained uncertain when and by how much the Fed would implement the policy easing. Bostic was also unsure about how inflation would decline in the future.
Bostic highlighted that most firms think that pricing power is at or near its limi…
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