More from Fed Governor Bowman:

Fed Bowman
  • Inflation has remained high
  • Some of the forces driving up inflation expected to last well into next year
  • A challenge with higher inflation is its greater effect on the low, moderate income people
  • there is a risk that food, energy price spikes can have a bigger than thought impact on inflation expectations
  • Watching for signs that labor market might become too hot
  • Main concern is that the outlook for inflation, driven by supply chain disruptions, labor market shortages
  • Fed is not currently considering incorporating climate change input into supervisory framework