Fed Governor Michelle Bowman: The Possibility of Raising Interest Rates Still on the Table

Fed Governor Michelle Bowman said she would still consider raising interest rates if inflation does not continue improving and moving toward the Fed's 2% target. Bowman noted there are "upside risks" that could cause inflation to accelerate more than expected. She said she remains willing to raise rates at a future meeting if progress on lowering inflation stalls or reverses. Recent inflation data has shown moderating prices but the Fed wants more evidence of a sustained decline before lowering rates.