Fed Governor Bowman says more progress on inflation is needed before further rate cuts

Key Points

Federal Reserve Governor Michelle Bowman said on Monday she wants to see data reflect more progress on inflation before cutting interest rates further.
While she expects inflation to continue to decelerate this year, she said disinflation “may take longer than we would hope.”
The Fed maintained its target rate at a range of 4.25% to 4.5% at its January policy meeting.

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