Fed Governor Bowman: Supports December interest rate cut as "final step" in policy readjustment

PANews January 10 news, according to Jinshi report, Federal Reserve Governor Bowman said on Thursday that she supported last month’s interest rate cut and believed that it was the “final step” in the Fed’s monetary policy adjustment. Due to rising inflation risks, caution must be exercised in the future. . “We should also avoid prejudging the future policies of the new administration,” Bowman said in prepared remarks to the California Bankers Association. "Instead, we should wait for more clarity and then seek to understand the impact on economic activity, the labor market and inflation." This is the first time Bowman has made these remarks since becoming the favorite to be the Federal Reserve's next top bank regulator. Barr announced this week that he would step down as the Fed's vice chairman for supervision by the end of next month. "This year will see a change in leadership at banking institutions, which I expect will translate into a shift in priorities and approaches," Bowman said. She reiterated her consistent calls for more targeted regulation and a Adopt a more “pragmatic” approach to policy making.