A senior Federal Reserve official has warned recent US inflation and employment data had not convinced her that price pressures are under control as she left the door open to voting for more rate rises.
Michelle Bowman, a voting member on the Fed’s policy-setting committee, said the US central bank’s attempt to tighten financial conditions and damp the economy were having the “desired” effect, but she stopped short of endorsing a pause in rate rises.
“In my view, the most recent [consumer price inflation] and employment reports have not provided consistent evidence that inflation is on a downward path,” she said at an event in Frankfurt on Friday. Bowman said she wanted to see more data before deciding whether to vote in favour of holding rates at their current level when the committee next meets in June.