Federal Reserve Governor Bowman: Cooling labor market exaggerated, remains cautious on rate cuts
Federal Reserve Governor Bowman stated that there is an upward risk of inflation, and the labor market continues to strengthen, indicating that she may not be prepared to support a rate cut at the next meeting of US central bank officials in September. She said that the progress made in reducing inflation in May and June was welcomed, but inflation still remains above the committee's 2% target, which is concerning. When considering adjusting the current policy stance, I will maintain a cautious attitude. She also mentioned that US fiscal policy, immigration pressure on the real estate market, and geopolitical risks could bring upward pressure on house prices, and the recent surge in the unemployment rate to 4.3% may exaggerate the extent of the labor market cooling
On August 11th, Jinshi Data reported that Federal Reserve Board member Bowman stated that there is upward risk of inflation and the labor market continues to strengthen, indicating that she may not support a rate cut at the next meeting of the Federal Reserve officials in September. She mentioned that the progress made in reducing inflation in May and June was welcomed, but inflation still remains above the committee's 2% target, which is concerning. When considering adjusting the current policy stance, I will maintain a cautious attitude. She also mentioned that U.S. fiscal policy, immigration pressure on the real estate market, and geopolitical risks could bring upward pressure on house prices, and the recent surge in the unemployment rate to 4.3% may have exaggerated the extent of the labor market cooling