Michelle Bowman: “It is likely that the impact of tariffs on inflation may take longer, be more delayed and have a smaller effect than…”

If we allow this to occur, we will end up with a system of significantly fewer banks serving significantly fewer customers. Those who will likely bear the burden of this new banking system are those at the lower end of the economic…

The economy remains strong, with solid growth in economic activity and a labor market near full employment.

Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting in order to bring it closer to its neutral setting and to sustain a healthy labor market.

The proposal will help to build resilience in U.S. Treasury markets, reducing the likelihood of market dysfunction and the need for the Federal Reserve to intervene in a future stress event.