Overview

• Bowman warns of persistent inflation risks and the need for a cautious approach to monetary policy.
• Recent economic data shows modest progress on inflation, but not enough to warrant rate cuts.
• Bowman highlights potential pressures from supply chain normalization, immigration, and geopolitical developments.
• Other Fed officials echo Bowman's sentiment, stressing the importance of achieving the 2% inflation target.
• Market reactions include skepticism about the likelihood of rate cuts this year, with some expecting further tightening.