Federal Reserve Governor Bowman: In favor of three interest rate cuts this year, ignoring temporarily high inflation is appropriate.

Regarding inflation, Federal Reserve Board member Bowman stated that core personal consumption expenditure inflation seems to be moving closer to the 2% target than recent data suggests. He believes that ignoring temporarily high inflation is an appropriate approach. The upward risk of inflation has decreased, and there is more confidence that tariffs will not lead to sustained inflation. Bowman believes that the sharp slowdown in job growth may be due to a significant weakening in labor demand. Bowman stated that easing regulations, reducing taxes, and creating a business-friendly environment may offset the impact of tariffs on economic activity and prices. In addition, he supports three interest rate cuts this year.