Fed's Bowman hints further rate hikes may be needed to cool inflation

Gold Ten Data, August 6th, Fed Governor Bowman said that the Fed may need to raise interest rates further to fully restore price stability. Bowman said she supported the Fed's decision to raise rates at last month's meeting. While data released since then have shown slower price growth, Bowman said she would like to see more evidence of persistent deflation. "The recent lower inflation data is positive, but I will be looking for consistent evidence that inflation is falling meaningfully toward our 2% objective as I consider further rate hikes and the need for the federal funds rate to be at a restrictive level How long does it stay level," she said. "I would also watch for signs of a slowdown in consumer spending and signs of easing labor market conditions."
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