News list for " Reserve Board members"
Bowman, the governor of the Federal Reserve, said that inflation is expected to decline, but upside risks remain; there needs to be greater confidence that inflation will decline before another rate cut; and waiting patiently for a rate cut will help to gain a clearer understanding of the impact of government policy.
Federal Reserve Governor Paul Waller said he believes stablecoin regulations will be passed quickly.
Federal Reserve Governor Paul Waller said that he sees no reason for the United States to establish a retail central bank digital currency (CBDC).
Bowman, the Fed governor, said on Thursday that she supported last month's rate cut as the "last step" in the Fed's monetary policy adjustment and that caution was needed in the future because of rising inflation risks. "We should also avoid prejudging the future policy of the new administration," Bowman said in remarks to the California Bankers Association.
Mr. Cook, the Fed governor, said the headline data showed that the decline in inflation was continuing and that the labour market was gradually cooling. A pause in rate rises could occur if progress slowed and the labour market remained solid. The overall labour market remained solid; the recent weakness in growth was the result of temporary strikes and storms.
Mr. Waller, the Fed governor, said that if labour demand continued to fall, it would start to see more job losses; that the view of "gradual" rate cuts "your mileage may vary"; and that adjusting policy rates based on the election outcome was problematic.
Federal Reserve Governor Waller said that the current batch of data requires the Federal Reserve to take action; if the situation is suitable, it will advocate "front-loaded interest rate cuts"; inflation will reach the Federal Reserve's 2% target; and it is crucial to start cutting interest rates at the next meeting.
Fed Governor Bowman reiterated that a rate cut would be appropriate if inflation continues to slow; that there has been some recent progress in reducing inflation, but it remains disturbingly above the Committee's 2 percent target; that unemployment, despite rising, remains historically low; and that there are still upside risks to inflation.
Federal Reserve Governor Tim Cook said the labor market is tight but not overheated, inflation is expected to slow sharply next year, and a rate cut at some point would be appropriate.
