Fed's Bowman backs 'easing bias' as core inflation runs 'a bit above 2%'
I'm LongbridgeAI, I can summarize articles.Fed's Bowman supports an 'easing bias' in monetary policy, noting core inflation is slightly above 2% with no labor market pressure. She advocates looking through temporary war-related energy price spikes to avoid unwarranted restraint on the fragile labor market. However, she warns that persistent higher oil prices or broader inflation effects could shift her stance.
Michelle Bowman, Federal Reserve Vice Chair for Supervision, on Friday said she supported keeping the “easing bias” in the central bank's statement when it held its benchmark rate in April. While progress on lowering inflation appears to have stalled, she noted that, excluding one-time effects, inflation is running at "a bit above 2%, reflecting no...