Fed Governor Bowman: Supports December rate cut as the "final step" in policy readjustment

Odaily Odaily News: Federal Reserve Governor Bowman said on Thursday that she supported last month's interest rate cut, believing that it was the "final step" in the Fed's monetary policy adjustment, and that caution must be exercised in the future due to rising inflation risks. "We should also avoid prejudging the future policies of the new administration," Bowman said in a speech prepared for delivery to the California Bankers Association. "Instead, we should wait for clearer news and then seek to understand the impact on economic activity, the labor market and inflation." This is the first time Bowman has made such remarks since she became a popular candidate for the next top bank regulator at the Federal Reserve. Barr announced this week that he will resign as the Fed's vice chairman for supervision by the end of next month. "This year will see a change in leadership at banking institutions, and I expect this will translate into a shift in priorities and approaches," Bowman said. She reiterated her consistent call for more targeted regulatory regulations and a more "pragmatic" approach to policy making.