Bowman Says ‘Fragile’ Job Market Justifies More Rate Cuts (1)

Michelle Bowman, the Federal Reserve’s top bank cop, said inflation is close enough to the central bank’s target to justify more interest rate cuts because the job market is weakening.

Inflation is “within range” of the Fed’s 2% target but the labor market is more “fragile” than expected, Bowman said Thursday at a Psaros Center for Financial Markets and Policy event at Georgetown University. The impact of tariffs on rising prices is likely to be a one-time event, she said.

Bowman has been advocating for the Fed to cut rates, saying policymakers are in ...