By Ann Saphir
(Reuters) -The Federal Reserve’s vice chair of supervision, Michelle Bowman, on Saturday said recent weak job data underscores her concerns about labor market fragility and strengthens her confidence in her own forecast that three interest-rate cuts will likely be appropriate this year.
Bowman was one of two Fed governors to dissent last month against the U.S. central bank’s decision to leave short-term borrowing costs in the 4.25%-4.50% range where they have been since December.
Most Fed officials have been more cautious about lower rates given the potential they see that the Trump administration’s tariffs could disrupt progress on getting inflation down to the Fed’s 2% goal. In recent days, however, several Fed policymakers appear to have moved closer to supporting cuts.