Bowman Wants Fed Ready to Cut Rates for Still-Fragile Job Market

Federal Reserve Vice Chair for Supervision Michelle Bowman said monetary policy remains moderately restrictive and officials should be prepared to lower interest rates further unless the employment landscape improves.

Bowman added that the Fed should not signal policy is on hold, as many of her colleagues have done, given the risk of further deterioration in the jobs market.

Michelle Bowman

Photographer: Graeme Sloan/Bloomberg

“Absent a clear and sustained improvement in labor-market conditions, we should remain ready to adjust policy to bring it closer to neutral,” Bowman said in the text of a speech she’s set to deliver Friday at the New England Economic Forum ...