Speaking to community banker in San Diego California.

Speaking to community banker in San Diego California.

One of the newer FOMC members (became a member on November 26, 2018), Michelle Bowman, is speaking to community bankers in San Diego.

She did not have any comments about the economy or Fed policy in prepared remarks, but some other comments are trickling out.

  • We continue to see great job numbers and solid wage growth
  • US economy is in a good place
  • Our inflation is close to target
  • she's comfortable with current Fed policy stance

Those comments are congruent with the other board members who see policy on hold for the time being.

Last week, Fed's Powell said:

  • U.S. economy is now in a good place
  • low unemployment, inflation near target
  • We've had some big events, some surprises like Brexit...and the system has been strong

Today marked the first speech since joining the FOMC and her comments are straight down the middle and aligned with Chair Powell