Bowman, The U.S. Economy and Considerations for Monetary Policy

What happened: Fed Governor Bowman said she supported holding the federal funds rate target range at 3-3/4 to 4 percent at last month's FOMC meeting, and that bringing inflation down remains a priority. Key numbers: Real GDP rose 2.4 percent in the first half and likely more than 3 percent in the third Why it matters: Bowman said inflation has proven more persistent than she anticipated and progress on lowering it has stalled, while the labor market has improved more than she expected. She said further policy rate changes should wait for a better understanding of how conditions evolve.

Fed Governor Bowman said she supported holding the federal funds rate target range at 3-3/4 to 4 percent at last month's FOMC meeting, and that bringing inflation down remains a priority.

Bowman said inflation has proven more persistent than she anticipated and progress on lowering it has stalled, while the labor market has improved more than she expected. She said further policy rate changes should wait for a better understanding of how conditions evolve.