Bowman said on Friday she expects declining inflation to allow further interest rate cuts this year, but feels many factors could slow the process.

Federal Reserve Governor Michelle Bowman said on Friday that she prefers the U.S. central bank to continue to hold off on interest-rate reductions until its progress in lowering inflation resumes. Following three consecutive rate cuts,

Federal Reserve Governor Michelle Bowman said she wants to see additional progress on inflation before the central bank lowers interest rates further, and questioned how restrictive policy might be given the economy’s strength.

Traders on Friday kept bets that the Federal Reserve will wait until June to resume interest rate cuts, after government data showed inflation by the U.S. central bank's targeted measure ticked up to 2.