TechFlow, December 15 — According to Jinshi Data, Federal Reserve Governor Michelle Bowman reiterated that the Fed's policy stance is overly restrictive for the economy. She noted favorable inflation prospects while highlighting some warning signs in the labor market. Bowman stated she expects housing inflation to ease as rent increases retreat from their pandemic-era peaks to normal levels. She believes service-sector inflation is unlikely to face upward pressure due to cooling labor market conditions. Some drivers of service-sector inflation, such as portfolio management fees, reflect statistical anomalies rather than actual price changes felt by consumers. Regarding the labor market, Bowman said: "Experience shows that labor market deterioration can occur rapidly, nonlinearly, and be difficult to reverse." "Partly because monetary policy operates with a lag of several quarters, moving more quickly to ease policy would appropriately bring us closer to a neutral stance, as I have advocated."
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