The Federal Reserve’s top regulator believes the central bank should shift its focus to protecting the job market, stressing that cutting interest rates in the near term should be considered to support employment and consumer spending. In a speech Saturday, Fed Vice Chair for Supervision Michelle Bowman said concerns around inflation, specifically how tariffs might impact price stability, will have minimal impact on the economy, but that there are emerging “signs of fragility in the labor market,” that requires the Fed’s attention.
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