Federal Reserve Governor Open to Rate Hikes If Inflation Persists

Former Treasury Secretary Larry Summers argues against growing optimism that inflation pressures are easing.

Federal Reserve Governor Michelle Bowman attends an event in Washington, on Oct. 4, 2019. Eric Baradat/AFP/Getty Images

Federal Reserve Gov. Michelle Bowman said at a London event on June 25 that she is prepared to raise interest rates if inflation pressures persist.

Speaking to the British conservative think tank Policy Exchange, Ms. Bowman conceded that she would be willing to increase the benchmark federal funds rate “should progress on inflation stall or even reserve.”