federal reserve michelle bowman interest rates.

A top official at the Federal Reserve is saying that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower. Michelle Bowman pointed to July’s hiring slowdown, along with her belief that inflation is heading down toward 2% despite President Donald Trump’s tariffs. She was one of two Fed officials who voted a week and a half ago in favor of lowering interest rates. They lost out as nine other Fed officials voted to keep rates steady. Lower rates can help the economy but can also fuel inflation.