Fed Governor Michelle Bowman stated in a speech on Friday that the Federal Reserve should be ready to raise rates further because of high inflation and a tight labor market.
Bowman said that recent inflation data did not provide evidence that inflation is declining and that she will continue to monitor incoming data to determine the appropriate stance of monetary policy going into the June meeting.
If inflation remains high and the labor market remains tight, Bowman believes that additional monetary policy tightening will likely be necessary to lower inflation over time, according to comments she made at a European Central Bank conference in Frankfurt.
