Michelle Bowman, vice chair for supervision of the Federal Reserve Board of Governors, moderates a dialogue with OpenAI CEO Sam Altman (not pictured) throughout the Federal Reserve’s Built-in Overview of the Capital Framework for Giant Banks Convention in Washington on July 22, 2025. Reuters/Ken Cedeno
Michelle Bowman, the Federal Reserve’s vice chair of supervision, on Aug. 9 stated that current job knowledge corroborates her considerations over labor market fragility and backs up her place that three rate of interest cuts must be instituted this 12 months.
Final month, Bowman was one in every of two Fed governors who dissented from the central financial institution’s choice to maintain short-term borrowing prices within the 4.25 % to 4.5 % vary that they’ve been in since December 2024.