Fed's Bowman: Inflation to rise gradually toward 2% target

Fed Governor Michelle Bowman noted that she sees a "very favorable" US economic outlook of moderate growth and low unemployment in her prepared remarks on community bank regulation delivered at a conference in Florida.

Bowman further added that she expects inflation to rise gradually toward the Fed's target of 2%.

Market reaction

These comments were largely ignored by the market participants. As of writing, the US Dollar Index was down 0.06% on the day at 98.65 and the 10-year US Treasury bond yield was at 1.562%, erasing 1.8%.