"Fed Governor Bowman: Rate Hikes Unlikely, Potential for Future Cuts if Inflation Drops"

Federal Reserve Governor Michelle Bowman, previously an advocate for tight monetary policy, indicated that interest rate hikes are likely over but she's not ready to start cutting yet. She noted progress against inflation and suggested that the policy rate should be held at the current level for some time. Bowman emphasized the need to remain cautious and flexible in considering future changes in policy, with a willingness to raise the federal funds rate if inflation data reverse. The Fed's next meeting is expected to maintain rates, with potential cuts beginning in March.