Federal Reserve's governor Michelle Bowman said Friday that she believes that the Fed's policy rate will need to remain sufficiently restrictive for some time to bring inflation down. She added that inflation remains much too high and recent data have not provided consistent evidence that inflation is on a downward path.
Also, Bowman suggested that additional policy tightening is likely appropriate if inflation remains high and the labor market remains tight.
The official stressed that she will continue to closely monitor the incoming data as she considers the appropriate policy stance going into the Fed's June meeting."