On January 10, PANews reported that Federal Reserve Governor Bowman stated on Thursday that she supports last month's interest rate cut, believing it to be the "final step" in the adjustment of the Federal Reserve's monetary policy, due to rising inflation risks and the need for caution in the future. "We should also avoid prematurely judging the future policies of the new government," Bowman said in a speech prepared for the California Bankers Association. "Instead, we should wait for clearer signals and then seek to understand the impact on economic activity, labor markets, and inflation." This was the first time Bowman made such remarks since becoming a strong candidate for the next top banking regulatory official at the Federal Reserve. Barr announced this week that he would resign as Vice Chairman for Supervision at the Federal Reserve by the end of next month. Bowman stated, "This year will see changes in the leadership of banking institutions, and I expect this will translate into shifts in priorities and approaches." She reiterated her consistent call for more targeted regulatory rules and a more "pragmatic" approach to policymaking.