Fed: “You can guess as well as I do what will happen to the economy” (Bowman)

(Boursier.com) – Michelle Bowman, member of the Board of Governors of the Fed, is among the ‘speakers’ of the US central bank on Friday. She notes that “we are seeing a lot of inconsistent data regarding economic conditions” and adds that “you guess as well as I do what is going to happen next for the economy.” Bowman says the Fed needs to keep raising rates until it sees more progress. “We don’t see what we need to see in terms of inflation, and the numbers are erratic,” lamented the official, saying “there is a long way to go to bring inflation back to our target.” She believes that the latest figures are indeed not in line with the objective of reducing inflation.