Fed’s Bowman Favors Three Interest-Rate Cuts This Year

Federal Reserve Governor Michelle Bowman delivered two key pieces of news on Saturday, saying she favors three interest-rate cuts this year and will host an Oct. 9 community bank conference.

Bowman said in prepared remarks she supports multiple interest-rate cuts and that her view had been reinforced by recent weak labor-market data. The Fed’s policymaking committee has held rates steady this year, which Bowman supported through June. But in July she dissented alongside Governor Christopher Waller, in favor of a quarter-percentage-point cut.