Feb 13 (Reuters) - The Federal Reserve will need to
continue to raise interest rates in order to get them to a level
high enough to bring high inflation back down to the central
bank's target rate, Fed Governor Michelle Bowman said on Monday.
"I expect we'll continue to increase the federal funds rate
because we have to bring inflation back down to our 2% goal and
in order to do that we need to bring demand and supply into
better balance," Bowman said during an American Bankers
Association conference in Florida.
Once at a sufficiently restrictive level, interest rates
will then need to be held for "some time" to restore price
stability, she said.
Bowman added that a very strong labor market alongside
moderating inflation meant a so-called economic 'soft landing'
remains possible.
(Reporting by Lindsay Dunsmuir; Editing by)
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