Federal Reserve Governor Bowman: Monetary policy is not on a predetermined path, core inflation will further slow down

ChainCatcher news, according to Jinshi reports, Federal Reserve Governor Bowman spoke about the economic outlook: inflation is expected to decline, but there are still upside risks, and stronger confidence in the decline of inflation is needed before any further rate cuts. Patience in waiting for rate cuts will help to better understand the impact of government policies.

The labor market has not tightened due to a slowdown in hiring, but the unemployment rate remains below the expected level of full employment, and wage growth has exceeded levels consistent with the Federal Reserve's inflation target. Currently, the U.S. economy remains strong, with economic activity achieving robust growth and the labor market nearing full employment. Core inflation levels are still slightly high, but they seem to have returned to a downward trajectory. My basic expectation is that core inflation will further slow down this year. Monetary policy is not on a preset path.