Bowman urges patience on rate hikes
Fed Vice Chair Michelle Bowman said the US central bank should gain a clearer view of the economic outlook before raising interest rates again.
Bowman said she sees no urgent need for further action at this stage, adding that the Fed should assess the full range of incoming data and proceed cautiously in light of economic risks.
Bowman’s comments came as differing views emerge within the Fed over the timing of another rate hike. New York Fed President John Williams and Fed Vice Chair Philip Jefferson have also said there is no need to rush into another increase. The Fed’s next interest rate meeting is scheduled for October 27-28.
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