Softening Labor Market Becomes Top Concern for Bowman

Federal Reserve Board Vice Chair for Supervision Michelle Bowman, in a speech to the Kentucky Bankers Association, noted that the labor market is fragile and may be “on the cusp of deteriorating” given the recent economic indicators which may lead to faster monetary policy adjustments to course-correct. She stated that recent federal policies will help reduce inflation, housing pressures, and facilitate a friendlier business environment for economic growth. Lastly, Bowman noted that a forward-looking approach which considers how the economy will evolve, will make for better policy decisions. 

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