Bowman's prepared remarks to a gathering of bankers in Alaska reflect her continued stance as one of the Fed's more hawkish policymakers. While she refrained for a second time from saying she stood ready, if necessary, to further lift rates, as has been her position previously, she offered little indication she is ready to endorse a rate cut at the Fed's Sept. 17-18 meeting, as is now widely expected. Inflation should continue to fall under the current stance of policy, she said, and if inflation continues to fall sustainably toward the Fed's 2% target, "it will become appropriate to gradually lower the federal funds rate to prevent monetary policy from becoming overly restrictive on economic activity and employment."
