The Federal Reserve is expected to consider further interest rate hikes of 0.75 percentage points in upcoming meetings to bring high inflation back to the central bank’s target, Fed Director Michelle Bowman said Saturday.
“I supported the FOMC’s decision last week to raise the interest rate by another 75 basis points,” Bowman said in remarks prepared for a Kansas Bankers Association event in Colorado, referring to the Federal Open Market Committee that sets monetary policy. .
“My view is that increases of a similar size should be on the table until we see inflation fall consistently, significantly and sustainably.”
Bowman added that he is still open-minded about the magnitude of the increases, depending on how the economy evolves.