6/23, 5:45 PM (Source: TeleTrader)
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Fed's Bowman favors additional 75 bps hike at next meeting

Fed Governor Michelle Bowman (pictured) indicated that she believes an additional 75 basis point rate hike at the next meeting is "appropriate," according to prepared remarks to be delivered at the Massachusetts Bankers Association conference that were revealed Thursday.

According to the notes, she also calls for hikes of at least 50 basis points at the following meetings if supported by incoming data.

Additionally, "since inflation is unacceptably high," there is no point in having "the nominal federal-funds rate below near-term inflation expectations," said Bowman, while stressing that she is "committed to a policy that will bring the real federal-funds rate back into positive territory."

Baha Breaking News (BBN) / JG