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US Fed's Bowman: Latest jobs data stiffens support for three rate cuts in 2025
UNITED STATES, AUG 09 – Bowman highlights labor market fragility with only 35,000 monthly job gains and rising unemployment near 4.3%, advocating three Fed rate cuts to support economic growth in 2025.
- Federal Reserve Governor Michelle Bowman called for three interest rate cuts in 2025 following last week's weaker-than-expected U.S. jobs report.
- Bowman justified her position by highlighting that payroll growth had decelerated to an average of 35,000 jobs monthly over the quarter concluding in July, alongside a rise in the unemployment rate to nearly 4.2%.
- She noted that inflation has fallen from its post-pandemic high above 9% and is gradually approaching the Federal Reserve’s goal of 2%, adding that tariffs are unlikely to lead to sustained inflationary pressure.
- Bowman emphasized that recent labor market indicators support her perspective and recommended gradually shifting the current restrictive policy toward a neutral stance to mitigate risks if the labor market weakens further.
- Her dissenting vote against keeping rates steady highlights growing concerns among some Fed officials that easing is needed to support the softening economy and labor market.
108 Articles
108 Articles
US Fed official says dour jobs data backs case for 3 rate cuts
NEW YORK, United States — A top official at the Federal Reserve said Saturday that this month’s stunning, weaker-than-expected report on the US job market is strengthening her belief that interest rates should be lower. Michelle Bowman was one of two Fed officials who voted a week and a half ago in favor of cutting interest rates. Such a move could help boost the economy by making it cheaper for people to borrow money to buy a house or a car, bu…
The Epoch Times
The Constitution StudyFed Official Says Latest Jobs Data Supports 3 Rate Cuts in 2025
Michelle Bowman, the Federal Reserve’s vice chair of supervision, on Aug. 9 said that recent job data corroborates her concerns over labor market fragility and backs up her position that three interest rate cuts should be instituted this year. Last month, Bowman was one of two Fed governors who dissented against the central bank’s decision to keep short-term borrowing costs in the 4.25 percent to 4.5 percent range that they’ve been in since Dece…
Fed Official Says Latest Jobs Data Supports 3 Rate Cuts in 2025 - The Thinking Conservative
One of the Federal Reserve governors said recent job data backs up her position that three interest rate cuts should be instituted in 2025. The post Fed Official Says Latest Jobs Data Supports 3 Rate Cuts in 2025 appeared first on The Thinking Conservative.
The Times of Northwest Indiana
Top Federal Reserve board member expects cuts
NEW YORK — A top official at the Federal Reserve said Saturday that this month's stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.
US Fed official warns of fragile jobs market, urges proactive rate cuts
WASHINGTON: A recent US employment report confirmed “signs of fragility” in the labour market, a senior central bank official said Saturday, backing three interest rate cuts this year to guard against further weakening. © New Straits Times Press (M) Bhd
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