Federal Reserve Board of Governors member Bowman: Supports three rate cuts this year, it is appropriate to ignore temporarily elevated inflation.

[The Federal Reserve Board of Governors Bowman: Supports three rate drops this year, ignoring temporarily high inflation is appropriate] Regarding inflation, The Federal Reserve Board of Governors Bowman stated that core personal consumption expenditures inflation seems to be moving towards a direction much closer to the 2% target than the data suggests. He believes that ignoring temporarily high inflation is an appropriate approach. The risk of inflation rising has decreased, and he is more confident that tariffs will not lead to persistent inflation. Bowman believes that the sharp slowdown in job growth may be due to a significant weakening in labor demand. Bowman stated that easing regulations, lowering taxes, and creating an environment conducive to business development may offset the impact of tariff-related factors on economic activity and prices. In addition, he supports three rate drops this year. (Zhitong Finance)