Fed's Bowman says more interest-rate hikes will likely be needed

Speaking at a meeting of the Kansas Bankers Association in Colorado, Bowman — a former Kansas banking regulator — said she expects “that additional rate increases will likely be needed to get inflation on a path down to the [Federal Open Market Committee]’s 2% target.

Bowman said she supported that hike, which came after a pause in June, and that she wants to see more signs that the recent drop in inflation is sustained. Bowman reiterated that “monetary policy is not on a preset course,” and said upcoming decisions will be driven by data.

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