Fed's Bowman says she expects further policy tightening will be needed

[brooklynite]

This discussion thread was locked as off-topic by JudyM (a host of the Latest Breaking News forum).

Source: Reuters

Nov 7 (Reuters) - Federal Reserve Governor Michelle Bowman on Tuesday repeated her view that the U.S. central bank will likely need to raise short-term interest rates again, though for now she is content to assess the data and what it implies for the economic outlook.

"I remain willing to support raising the federal funds rate at a future meeting should the incoming data indicate that progress on inflation has stalled or is insufficient to bring inflation to 2% in a timely way," Bowman said in remarks prepared for delivery to a meeting of the Ohio Bankers League.

The Fed last week left its policy rate in the 5.25%-5.50% range, and though Fed Chair Jerome Powell left the door open to another interest-rate hike, he said that recently tighter financial conditions could slow the economy on their own.

The 10-year Treasury yield has fallen since then, but at around 4.58% remains about 75 basis points higher than it was in late July, when the Fed last raised the policy rate.

Read more: https://www.reuters.com/markets/rates-bonds/feds-bowman-says-she-expects-further-policy-tightening-will-be-needed-2023-11-07/

[Fiendish Thingy]

1. Well, that should trigger a reaction when the market opens on Monday...nt

[JudyM]

2. Locking. This is from November.