U.S. Federal Reserve Governor John Bowman said on Wednesday that interest rates should continue to rise to keep inflation in check. He said he thought inflation was “too high”.
“We are not where we need to be, especially with inflation,” Bowman told the Tennessee Bankers Association conference in Nashville. “We will need to continue raising the Federal Funds (FF) rate until we start to see more significant progress,” he said.
“No one can argue that inflation is too high,” he said, adding that “a lot of the economic data is really contradictory.”
news-rsf-original-reference paywall">Original title:Bowman Says Fed Needs to Keep Raising Rates to Cool Inflation(excerpt)
