Fed Governor Bowman: I respect and appreciate my colleagues' opinions that they prefer to take a larger interest rate cut

Federal Reserve Governor Bowman said that he respects and appreciates the opinions of his colleagues who prefer to take more substantial rate cuts, and remains committed to working with them to ensure that policies are properly positioned to achieve the dual mission goals. The economy remains strong and the labor market is close to full employment. He believes that the Fed is moving toward a more neutral policy stance at a moderate pace, which will ensure further progress in restoring the inflation rate to the target of 2%. At the September meeting, it was agreed that it was appropriate to readjust the level of the federal funds rate, but it was more inclined to implement a smaller rate cut for the first time, fearing that the Fed's larger policy actions might be prematurely interpreted as a declaration of victory in the fight against inflation. (Jinshi)