Federal Reserve Governor Bowman: It is not appropriate to cut interest rates now

Bowman, the Fed governor, said it was not appropriate to cut rates now; that a rate cut might be considered if inflation headed for 2 per cent; that I would still be willing to raise rates again if inflation did not slow; that I remained "cautious" in weighing future changes in Fed rates; that monetary policy was currently restrictive; that upside risks to inflation remained; and that only a modest decline in inflation was expected this year.