Anticipate another rate hike

Nov 30, 2023 | News

Federal Reserve Governor Michelle Bowman indicated that the U.S. central bank may need to further raise borrowing costs to bring inflation down to its 2% target. Despite the Federal Reserve maintaining its benchmark overnight lending rate at 5.25%-5.50% for two consecutive policy meetings, Bowman, who has often been in the minority of policymakers, believes the Fed’s job is not yet complete. She noted that while inflation had decreased from a peak of 7.1% to 3.4% in September, its progress remains uneven and there’s a high level of uncertainty about the economic outlook. You can read more about it in the following Reuters article here from November 28, 2023.

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