Fed’s Bowman Warns Of Layoffs Risk If Demand Conditions Don’t Improve: ‘We Are At Serious Risk Of Already Being Behind The Curve’
Synopsis
If labor market conditions continue to deteriorate, Bowman expressed concern that interest rates would have to be adjusted at a faster pace and to a larger degree.
Federal Reserve Governor Michelle Bowman warned on Tuesday of the risk that businesses may lay off workers if underlying demand conditions do not improve.
In remarks at a Kentucky Bankers Association event, Bowman expressed optimism following the Fed’s rate cut last week, but remained concerned about the labor market. “We are at serious risk of already being behind the curve in addressing deteriorating labor market conditions. Should these conditions continue, I am concerned that we will need to adjust policy at a faster pace and to a larger degree going forward.”
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