KEY TAKEAWAYS:

Bowman calls for three Fed rate cuts in 2025

Weak jobs report strengthens argument for lower rates

Inflation trending toward Fed’s 2% target despite tariffs

Wall Street expects a September rate cut

A top official at the Federal Reserve said Saturday that this month’s stunning, weaker-than-expected report on the U.S. job market is strengthening her belief that interest rates should be lower.

Michelle Bowman was one of two Fed officials who voted a week and a half ago in favor of cutting interest rates. Such a move could help boost the economy by making it cheaper for people to borrow money to buy a house or a car, but it could also threaten to push inflation higher.

Bowman and a fellow dissenter lost out after nine other Fed officials voted to keep interest rates

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