Federal Reserve Governor Bowman: Supports Starting Rate Cut in September, Believes Three Rate Cuts Should Occur This Year

BlockBeats News, August 11th, Federal Reserve Governor Bowman stated that recent sharp downward revisions to job growth data underscored the reason for the Fed to cut interest rates. The significant weakness in the labor market outweighed the risk of future inflation, and she expected to support rate cuts at all three remaining Fed meetings this year. With this year's economic growth slowing and signs of weakening job market momentum becoming clear, it is appropriate to gradually transition from a moderately restrictive policy stance to a neutral one. (FX168)