FRB,Bowman, Opening Remarks

Bowman, Opening Remarks

  • Speech by: Michelle W. Bowman, Member of the Board of Governors of the Federal Reserve System
  • Date: January 10, 2023
  • Event: “Monetary Policy in a High-Inflation Environment”
  • Location: The Economic Club of New York

Summary:

Member Bowman’s opening remarks focused on the following key points:

  • The Federal Reserve is committed to bringing inflation back down to its 2% target.
  • The Committee will need to continue raising interest rates to bring demand into better balance with supply.
  • The pace of rate increases will depend on economic data.
  • Monetary policy takes time to affect the economy.

Bowman’s remarks emphasized the following:

  • The Fed’s policy actions have already begun to cool demand.
  • The labor market remains strong, but there are signs that wage growth is moderating.
  • Inflation is still too high, but there are signs that it is beginning to decline.
  • The Fed will continue to monitor economic data and adjust its policy stance as needed.

Conclusion:

Member Bowman’s opening remarks provide a clear and concise overview of the Federal Reserve’s current monetary policy stance. She emphasized the Fed’s commitment to bringing inflation back down to its 2% target and discussed the factors that will influence the pace of future rate increases.


Bowman, Opening Remarks

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