They rose 7.5% in the year through January.īowman, who votes at every FOMC meeting and infrequently comments on monetary policy in public, is the latest official to make plain that they want to get started on removing pandemic policy support by raising rates from near zero and starting to shrink their bloated balance sheet - though views differ on how aggressively they should act. Consumer prices for February are released on March 10. central bankers are confronting the hottest inflation in 40 years and will get more information on how their preferred gauge of price pressures performed in January later this week.
“I think between now and then it is very important that we continue to watch how the economy develops and understand whether or not things are improving or getting worse,” she said, adding that “at this point I think it’s too soon to tell.” “I, as all of my colleagues will as well, will be watching the data closely to judge the appropriate size of an increase at the March meeting,” she told an American Bankers Association Community Banking Conference on Monday in Palm Desert, California.Īsked if she backed a half-point or a quarter-point increase, she said that question “is one that we will address at the upcoming FOMC meeting,” referring to the Federal Open Market Committee gathering on March 15-16. “I support raising the federal funds rate at our next meeting in March and, if the economy evolves as I expect, additional rate increases will be appropriate in the coming months,” said Bowman. Federal Reserve Governor Michelle Bowman suggested that a half percentage-point increase in interest rates could be on the table next month if incoming readings on inflation come in too high.
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