Fed Official Signals Need for More Rate Hikes Amid Strong Inflation and Job Market.

Federal Reserve Governor Michelle Bowman stated that if inflation remains high and the job market remains strong, more interest rate hikes would be needed. She also expressed concern about the recent regional bank failures and the potential for more aggressive regulation of banks. Bowman warned against imposing new requirements that could increase their funding costs or force them to boost their capital buffers. She also pushed back against the tailoring of capital rules and called for a strong risk-management culture in banks.