Federal Reserve Governor Michelle Bowman signaled that she favors raising interest rates again and probably more than once, suggesting she would move more aggressively than her US central bank colleagues to quash inflation. “I continue to expect that further rate hikes will likely be needed to return inflation to 2% in a timely way,” Bowman said Friday, using the plural “hikes” to describe her rate expectations. She noted that Fed officials expect inflation to stay above 2% until at least the end of 2025, according to the median forecast policymakers submitted in quarterly economic projections released this week. ... (full story)