The Federal Reserve is expected to cut interest rates twice more this year

Bowman, the Fed governor, said on Tuesday that she still expected the central bank to continue cutting interest rates at its last two monetary policy meetings in 2025. "I still see two more cuts before the end of the year." As long as the labour market and other economic data move in the direction I expect, we will continue on the path of lowering the federal funds rate, "Bowman said. Bowman supported a rate cut in last month's resolution after voting against keeping rates on hold at the July meeting and advocating an early start to the rate cut. She also dissented at the July meeting along with Waller, both nominated by Trump to the Fed board during his first term. Both Bowman and Waller have previously said that the Trump administration's renewed tariffs will not lead to persistent inflation, and that the current balance of risks is more skewed towards the labor market.