Federal Reserve Governor Michelle Bowman said on Monday that she voted to keep interest rates unchanged last week as the data indicated a solid labour market and she wanted to see further confirmation that inflation is close to the Fed's 2% target on a sustained basis. "If inflation remains near its current level or continues to move closer to our target, or if the data show signs of weakening in labour market conditions, it would be appropriate to consider lowering the policy rate, moving it closer to a neutral setting," she added.
The official added that the policymakers will receive one additional month of employment and inflation data before the Fed's next meeting in July. "Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting in order to bring it closer to its neutral setting and to sustain a healthy labor market," Bowman noted. "In the meantime, I will continue to carefully monitor economic conditions as the Administration's policies, the economy, and financial markets continue to evolve."