Federal Reserve Governor Michelle Bowman said Monday that she was open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.
WASHINGTON — Federal Reserve Governor Michelle Bowman said Monday that she was open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March. Bowman’s comments came after several officials on Friday pushed back against the idea of a half-point increase in the Fed’s benchmark short-term interest rate. The Fed is looking to raise rates as inflation surged to 7.5% in January compared with a year earlier, the biggest increase in four decades. The debate over how quickly to raise interest rates is being closely watched by financial markets and also could have an impact on the broader economy.
