Fed Governor Bowman: A large rate cut may be seen as an early declaration of victory in the fight against inflation
Fed Governor Bowman said that it was appropriate to agree to readjust the federal funds rate level at the September meeting, but preferred to implement a smaller rate cut for the first time.
Worried that the Fed's larger policy actions may be interpreted too early as a declaration of victory in the fight against inflation; spending data continued to grow steadily; inflation above target remains a concern.
The economy remains strong and the labor market is close to full employment; respect and appreciate the opinions of colleagues who prefer to take a larger rate cut, and remain committed to working with them to ensure that policies are properly positioned to achieve the dual mission goals.
REEF SUI NEIRO CATI
