United States Federal Reserve Governor Michelle Bowman said on Friday that:
she has yet to find “consistent evidence that inflation is on a downward path” in recent consumer price and job reports.
Delivering remarks in Frankfurt, Bowman noted that the Fed may have to continue to tighten policy if inflation stays elevated and the jobs market remains “tight.” The federal funds rate would have to stay “sufficiently restrictive for some time” to push inflation down and to “create conditions that will support a sustainably strong labor market,” according to the Fed governor. She also warned that the “economic outlook is uncertain and [the Fed’s] policy actions are not on a preset course.”Addressing the recent crisis and oversight of commercial banks, Bowman suggested that the Fed should be “remediating known, identified issues with bank supervision and issues that emerge from the public autopsy of these events.” NN: BlackMask Pod Cast
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