(Bloomberg) -- Federal Reserve Governor Michelle Bowman signaled that she favors raising interest rates again and probably more than once, suggesting she would move more aggressively than her US central bank colleagues to quash inflation.
“I continue to expect that further rate hikes will likely be needed to return inflation to 2% in a timely way,” Bowman said Friday, using the plural “hikes” to describe her rate expectations.
Fed officials left their benchmark lending rate unchanged Wednesday in a range of 5.25% to 5.5%. Most officials forecast at least one more rate hike this year, and the median policymaker saw the federal funds rate at 5.1% by the end of 2024, higher than previously estimated. “I see a continued risk that energy prices could rise further and reverse some of the progress we have seen on inflation in recent months,” she said.
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