Fed's Bowman: Still sees upside inflation risks, willing to raise rates if progress stalls

Fed eral Reserve Board of Governors member Michelle W. Bowman cautioned that there is a real risk that inflation could remain elevated for much longer than many are anticipating. Fed Board member Bowman outlined a far more cautious approach to the Fed 's current inflation outlook during a speech at the Massachusetts Bankers Association Annual Convention in Key Biscayne. Key highlights: It remains unclear whether further supply-side improvements will continue to lower inflation.

Continues to hold that inflation should slowly move lower as long as policy holds. Remains willing to raise rates further if data shows inflation progress has stalled or reversed. Expects inflation to remain elevated for some time. The extent of data revisions in the past few years makes assessing the economy even more challenging. Geopolitical developmentsremain a key upside risk to inflation.

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