Bowman Sees Fed On Hold With No 2024 Cuts as Inflation Sticky

Federal Reserve Governor Michelle Bowman said she doesn’t expect it will be appropriate for the Fed to cut interest rates in 2024, pointing to persistent inflation in the first several months of the year.

Bowman made the comments in a Bloomberg News interview following a speech to bankers in Texas, where she urged the central bank to proceed “carefully and deliberately” as policymakers move toward the Fed’s 2% inflation goal.

Michelle Bowman

Photographer: Julia Nikhinson/Bloomberg

“I, at this point, have not written in any cuts” for 2024, Bowman said in the interview, referring to the economic projections officials submit each quarter. “I’ve sort of ...