Bowman, in prepared remarks to a banking conference, said inflation remains too high and expects progress in lowering it to be slow 'given the current level of monetary policy restraint.' 'I remain willing to support raising the federal funds rate at a future meeting if the incoming data indicates that progress on inflation has stalled or is too slow to bring inflation to 2% in a timely way,' Bowman said. Energy prices also pose a renewed risk to inflation, she said, noting that the latest measure published on Friday of the Fed's preferred inflation gauge - the personal consumption expenditures price index (PCE) for August - showed that overall inflation rose, in part due to higher oil prices.
Federal Reserve Governor Michelle Bowman gives her first public remarks as a Fed policymaker at an American Bankers Association conference in San Diego
"I remain willing to support raising the federal funds rate at a future meeting if the incoming data indicates that progress on inflation has stalled or is too slow to bring inflation to 2% in a timely way," Bowman said. Last month the Fed left its benchmark rate unchanged in a range of 5.25% to 5.5% but projections from policymakers released at the time indicated a majority of them saw one more quarter-percentage point increase by year end.
Attorney General Merrick Garland said in an interview that aired Sunday that he would resign if asked by President Joe Biden to take action against Republican presidential frontrunner Donald Trump. The Justice Department is at the center of not only indictments against Trump that include an effort to overturn the 2020 election and wrongly keeping classified documents, but also cases involving Biden's son Hunter, the aftermath of the riot at the U.S.
Schwarzenegger, who served in office from 2003 to 2011, faced a state GOP that wasn't as stridently conservative as it has become in recent years.Ontario's minimum wage just went up. Here's how Windsorites say the change affects them
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