Federal Reserve Governor Michelle Bowman has expressed concerns about the need for the central bank to raise borrowing prices to lower inflation to 2% over a reasonable time.
The Fed maintains its benchmark overnight lending rate at 5.25%-5.50% for the second straight policy meeting this month.
Bowman has been among policymakers who believe the Fed’s job isn’t done, as the preferred inflation measure fell to 3.4% in September.
Stronger consumer spending, higher energy prices, and potential labor shortages due to manufacturing returns from overseas make it uncertain if additional easing will lower inflation.