Federal Reserve Board Member Bowman: Monetary policy is not on a preset path, core inflation will slow further

Odaily News Federal Reserve Board Governor Bowman spoke on the economic outlook: inflation is expected to decline, but upside risks remain, and stronger confidence in the decline in inflation is needed before another rate cut. Patiently waiting for rate cuts will help to gain a clearer understanding of the impact of government policies. The labor market has not become tight due to slowing hiring, but the unemployment rate is still below the expected level of full employment, and wage growth has been higher than the level consistent with the Fed's inflation target. At present, the US economy remains strong, economic activity has achieved solid growth, and the labor market is close to full employment. Core inflation levels are still slightly high, but seem to have returned to a downward track. My basic expectation is that core inflation will slow further this year. Monetary policy is not on a preset path. (Jinshi)