Member of the United States Federal Reserve Board of Governors Michelle Bowman addressed a key issue on Friday in New York, offering insights into the challenges the US economy faces in translating monetary policy into real-world economic activity. She acknowledged that fluctuations in the economy are influenced by factors beyond monetary policy alone.

Bowman noted that, while the Federal Open Market Committee (FOMC) has focused on reducing inflation in recent years, there is a growing expectation that labor market conditions and broader economic activity will play a larger role in shaping future policy decisions.