Federal Reserve Board Member Bowman: Monetary policy is not on a preset path, core inflation will slow further

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ODAILY
02-17
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Odaily reports that Federal Reserve Governor Bowman spoke about the economic outlook: Inflation is expected to decline, but upside risks remain, and more confidence in the decline in inflation is needed before another rate cut. Waiting patiently for a rate cut 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 is still below the level of full employment, and wage growth has exceeded the level consistent with the Fed's inflation target. Currently, the US economy remains strong, with solid growth in economic activity and the labor market close to full employment. Core inflation is still slightly higher, but appears to have returned to a downward trend. My basic expectation is that core inflation will slow further this year. Monetary policy is not on a pre-set course. (JinShi)

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