MNI BRIEF: Fed's Bowman Sees Two More Rate Cuts This Year

The Federal Reserve should lower interest rates twice more this year and can likely reduce borrowing costs if inflation remains under control and employment conditions remain weak, Fed Vice Chair For Supervision Miki Bowman said Tuesday.

"I continue to see two more cuts before the end of this year. Since last December, I had written in 75 basis points of cuts before the end of this year. We started with September, and our next meeting is in two weeks, and then we'll have another meeting in December," she said. "As long as we see the labor market and other factors, economic data evolving in the way that I expect, we'll continue to be on a path for lowering the federal funds rate."  (See MNI POLICY: Fed To Keep Cutting Rates Despite Missing Data)