Bowman, The U.S. Economy and Considerations for Monetary Policy

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At the C. Peter McColough Series on International Economics Council on Foreign Relations, Washington, D.C. Good afternoon. It is a pleasure to join you today at the Council on Foreign Relations to discuss my outlook for the U.S. economy. 1 Economic growth has gained momentum this year, driven by robust investment demand and solid consumer spending, and the labor market now appears to have stabilized. These outcomes suggest that the policy rate cuts toward the end of last year helped to address some labor market weakness. We are experiencing rapid technological change and ongoing geopolitical tensions, while inflation pressures have persisted for longer than I had hoped and have shown recent signs of broadening.