Federal Reserve's Bowman: Progress on inflation seems to have stalled, making it hard to believe that interest rates are restrictive
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Federal Reserve Governor Bowman stated that progress on inflation seems to have stalled, making it difficult to consider current interest rates as restrictive. He emphasized that inflation is the primary task of monetary policy, and a rapid rate cut could reignite inflation. Despite the strong U.S. economy, with the labor market nearing full employment and the unemployment rate remaining at historically low levels, the risk of inflation exceeding the 2% target remains prominent
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