Fed’s Bowman: not yet at the point where it is appropriate to cut rates

• Not yet at the point where it is appropriate to cut rates.
• Should data show inflation moving sustainably to 2%, it will eventually become appropriate to gradually lower policy rate.
• Baseline outlook continues to be inflation will return to 2% with policy rate held steady for some time.
• Willing to raise the target rate at a future meeting if inflation progress stalls or reverses.
• Will remain cautious in approach to future changes in policy stance.
• Other central banks may ease monetary policy sooner or more quickly that the Fed.
• Only modest further progress on US inflation seen this year.
• Expect US inflation to remain elevated for some time.
• Still see a number of upside inflation risks.
• US labour market remains tight despite some further rebalancing.

Bowman is a known hawk, so this comments are not surprising.

This article was written by Giuseppe Dellamotta at www.forexlive.com.