Fed’s Bowman repeats speech from earlier this week. No policy comments from Powell

The speech is a repeat from Tuesday.

• Dissent to half-point cut warranted by inflation still above target, “measured pace of cuts more appropriate”

• Core inflation remains uncomfortably above 2% target with upside risks given ongoing growth in spending, wages

• Recalibrating policy appropriate given progress on inflation, but should not declare victory yet

• Upside
  risks to inflation still “prominent,” including supply chain fragility,
  fiscal policy, mismatch of housing supply and demand

• Though
  labor market has shown signs of cooling, wage growth, spending and GDP
  “not consistent” with a material economic weakening

• There are still more jobs than available workers

It’s a big day on the Fed schedule as we get Williams imminently.

We will also hear from Barr, Cook and Kashkari today. Powell is out with some remarks as well but it’s a pre-recorded video speech so it won’t be market moving.

Update: The Powell comments are out and don’t speak on monetary policy.

This article was written by Adam Button at www.forexlive.com.