Fed's Bowman's hawkish comments: More rate rises needed to combat high inflation – by fx_ross Fed Currencies DollarIndex
further to combat high inflation. Her comments follow a slew of hawkish remarks from prior Fed speakers this week. "We have a lot more work to do" she added in prepared remarks for a speech to a banking group in Florida.
"I take this as a hopeful sign that we can succeed in lowering inflation without a significant economic downturn." Bowman said that for her to know inflation has eased enough for the Fed to stop hiking rates, she will"be looking for compelling signs that inflation has peaked and for more consistent indications that inflation is on a downward path."The US Dollar came under modest selling pressure following the Chair of the Federal Reserve, Jerome Powell, who made unrelated comments at the start of the US session: ''Meanwhile, the DXY index is trading around 103.
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