The Fed would take another rate hike to lower inflation

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.


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