Federal Reserve , Likely Not Finished With , 2023 Rate Hikes.<br />NBC reports that another rate hike by the <br />Federal Reserve could be coming in September<br />as the Fed continues to fight inflation.<br />According to Michelle Bowman, a member of the <br />Board of Governors of the Federal Reserve System, , "additional rate increases will likely be needed to get inflation <br />on a path down to the FOMC’s 2 percent target.”.<br />According to Michelle Bowman, a member of the <br />Board of Governors of the Federal Reserve System, , "additional rate increases will likely be needed to get inflation <br />on a path down to the FOMC’s 2 percent target.”.<br />Bowman reportedly cited persistently high inflation, <br />increased consumer spending, a rebounding housing <br />market and a strong labor market as pushing rates higher.<br />Bowman reportedly cited persistently high inflation, <br />increased consumer spending, a rebounding housing <br />market and a strong labor market as pushing rates higher.<br />She added that the Fed's monetary policy <br />is not on a "preset course," stressing that data <br />will determine future decisions on rate hikes.<br />We should remain willing to raise <br />the federal funds rate at a future meeting<br />if the incoming data indicate that <br />progress on inflation has stalled, Michelle Bowman, Member of the Board of Governors <br />of the Federal Reserve System, via NBC.<br />NBC reports that Bowman's comments suggest that the <br />Fed will have to increase the rate above the 5.6% that <br />policymakers established in a late-July meeting.<br />The recent lower inflation reading was <br />positive, but I will be looking for consistent <br />evidence that inflation is on a meaningful <br />path down toward our 2 percent goal as <br />I consider further rate increases and how <br />long the federal funds rate will need <br />to remain at a restrictive level, Michelle Bowman, Member of the Board of Governors <br />of the Federal Reserve System, via NBC.<br />I will also be watching for signs <br />of slowing in consumer spending <br />and signs that labor market <br />conditions are loosening, Michelle Bowman, Member of the Board of Governors <br />of the Federal Reserve System, via NBC.<br />On August 4, the Labor Department released its <br />monthly job report, showing that hiring had slowed <br />in June while unemployment lingered at 3.5%.<br />However, NBC reports that Bowman also noted <br />that there are still not enough workers <br />to fill the number of available jobs.
