Fed's Bowman says jobs crisis could force three rate cuts this year

Description

Federal Reserve Vice Chair for Supervision Michelle Bowman said on Saturday that the latest soft jobs report adds to her worries about the health of the labor market and supports her long-held view that three interest-rate cuts will likely be needed this year. Bowman was one of two governors who disagreed with the Fed’s decision last month to keep short-term interest rates between 4.25% and 4.50%, the level they have held since December. While many Fed officials have been reluctant to push for r...