Michelle Bowman, Vice-Chair for Supervision of the Federal Reserve, will ease discussions with Openai CEO Sam Altman (not photographed) in an integrated review of the capital framework for the Large Banks Conference held in Washington on July 22, 2025. Reuters/Kencedeno
Michelle Bowman, the Federal Reserve vice-chairman, said on August 9 that recent job data supports concerns about labor market vulnerability and supports her position that three interest rate cuts should be enacted this year.
Last month, Bowman was one of two Federal Reserve governors since December 2024 who opposed the central bank’s decision to maintain short-term borrowing costs in the range of 4.25% to 4.5%.
