Fed's Bowman: Interest rates may need to rise further

Market news

11 October 2023

Fed's Bowman: Interest rates may need to rise further

Speaking at the International Monetary Fund (IMF) meetings in Morocco on Wednesday, US Federal Reserve (Fed) Governor, Michelle Bowman, justifies her view for further policy tightening.

Key quotes

Inflation remains well above the FOMC's 2% target.

Job market remains tight.

This suggests policy rate may need to rise further.

And stay restrictive for some time to return inflation back to the target goal.

Market reaction

The US Dollar Index is keeping its downside consolidation mode intact near 105.75, awaiting the top-tier US PPI data and the FOMC Minutes for a fresh directional impetus.

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