The Federal Reserve should consider more 75 basis-point interest rate hikes at coming meetings in order to bring high inflation back down to the central bank’s goal, Fed Governor Michelle Bowman said on Saturday.
“I supported the FOMC’s decision last week to raise the federal funds rate another 75 basis points,” Bowman said in prepared remarks to a Kansas Bankers Association event in Colorado, referring to the Federal Open Market Committee that sets monetary policy. “My view is that similarly-sized increases should be on the table until we see inflation declining in a consistent, meaningful, and lasting way.”
