Fed's Bowman Urges Cautious Approach to Further Rate Cuts.

Federal Reserve Governor Michelle Bowman advocates for a cautious approach to further interest-rate cuts due to a slowdown in progress towards reducing inflation. She expressed a preference for gradual adjustments to assess the distance from the desired endpoint, especially considering the inflation goal has not been met. Bowman's remarks suggest she may not support another rate cut if the labor market remains strong while inflation progress stalls. Additionally, she criticized the regulatory response to bank failures in early 2023, emphasizing the importance of promoting safety, soundness, and financial stability without favoring specific institutions. [Extracted from the article]