Member of the United States Federal Reserve Board of Governors Michelle Bowman expressed on Tuesday her belief the central bank will introduce more raises in interest rates to take inflation to its 2% target while stressing she supported its newest decision to pause the hikes.
"Currently, the federal funds rate appears to be restrictive, and financial conditions have tightened since September. Some of this tightening has occurred through longer term bond yields, which can be volatile over time as conditions change," Bowman said at the Ohio Bankers League summit in Columbus, Ohio.
"I will be closely watching the incoming data as I assess the implications for the economic outlook and the appropriate setting of monetary policy," she concluded.
