Michelle Bowman, the United States Federal Reserve Governor, said on Friday that she had not yet found "persistent evidence that inflation is on a downward path" in recent consumer price and job reports.
Additional increases in interest rates are likely to be appropriate if inflation remains high, and the labour market remains tight.
- Policy is now constrained but uncertain if it is constrained enough to reduce inflation
- Inflation is still very high.
It also warned that "economic prospects are uncertain and that [Federal Reserve Bank] policy actions are not on a predetermined path."
Recent data did not provide consistent evidence that inflation was on a downward path.
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