Inflation Is Still Too High, More Rate Hikes May Be Appropriate: Top Fed Official Warns

Federal Reserve Gov. Michelle Bowman gives her first public remarks as a Fed policymaker at an American Bankers Association conference in San Diego on Feb. 11, 2019. Ann Saphir/Reuters

The latest consumer price data show that inflation is still too high to warrant an easing of monetary policy and may even require further interest rate increases, according to a senior Federal Reserve official.

Michelle Bowman, who sits on the Fed’s Board of Governors and is a voting member of the central bank’s rate-setting Federal Open Market Committee (FOMC), made the remarks at a May 12 symposium on financial system construction in Germany.