Federal Reserve Board Member Bowman: Does not believe there is an urgent need for interest rate hikes at this time. We will continue to monitor the economic situation.

Li Dan, as reported by Wall Street Journal, stated that Michelle Bowman, the vice chairperson of the Federal Reserve who is responsible for regulatory oversight, noted that after the decision to raise interest rates was made during the September meeting, the Fed does not need to rush into further monetary policy adjustments. Policymakers can take time to assess the economic situation before making decisions. Bowman made these remarks during the annual membership summit of the International Finance Institute in Bangkok on Wednesday (the 14th) local time. She acknowledged that inflation remains above the Federal Reserve’s target, but emphasized the need to thoroughly evaluate economic data and observe the evolution of financial markets and the economic situation before considering next steps. Bowman’s statements are consistent with the views of several Fed officials recently, but there are still internal differences among them—some officials still prefer to raise interest rates once more this year. Bowman’s stance helps to shape market expectations: the likelihood of the Fed taking action urgently during the policy meeting scheduled for October 27-28 decreases, and future policy directions will depend on the data that will be released later.