Federal Reserve Board Governor Bowman: I support three rate cuts this year and it is appropriate to ignore temporarily high inflation

regarding inflation, Federal Reserve Board member Bauman said that core personal consumption expenditure inflation seems to be moving closer to the 2% target than the data suggests. He believes that ignoring temporarily high inflation is the appropriate approach. The upside risks to inflation have decreased, and he is more confident that tariffs will not lead to sustained inflation. Bauman believes that the sharp slowdown in job growth may be due to a significant softening in labor demand. Bauman stated that relaxing 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 rate cuts this year.