Michelle Bowman, a member of the U.S. Federal Reserve, believes it is the right time to take bold steps to support the economy and preserve jobs. She called on the central bank to cut interest rates three times before the end of the year to avoid a further deterioration in the labor market.
In her scheduled speech in Colorado, she emphasized that early action is better than waiting, especially after the latest jobs report showed a clear slowdown in job creation, along with negative revisions to previous numbers, which sparked widespread debate.
Bowman and Governor Christopher Waller were among the few who opposed the decision to keep interest rates steady, calling for a quarter-point reduction. Both were appointed by former President Donald Trump.
Bowman believes that the risks to jobs currently outweigh the risks of inflation, and she expects the inflation rate to return to 2% after the impact of the new tariffs fades.