More interest rate hike "likely be needed" to lower inflation: Fed Governor Bowman

Washington [US], August 6 (ANI): US Federal Reserve Governor Michelle W Bowman has said an additional interest rate increase will likely be needed to get inflation on a path down to its 2 per cent target.

The US central bank in its July meeting raised its benchmark interest rate by 25 basis points, the highest in the past 22 years at 5.25-5.5 per cent.

"Given the strong economic data and still elevated inflation, I suppor